Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points

The Fed raised involvement rates by 50 ground points (bps) pursuing the Dec. 14 Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.25-4.5%.

Bitcoin reacted with an contiguous 3.2% plaything to the downside, bottoming retired astatine $17,762 connected the 19:00 (UTC) 5-minute candle.

Source: BTCUSDT connected TradingView.com

The station Bitcoin sinks 3.2% arsenic Fed raises involvement rates by 50 ground points appeared archetypal connected CryptoSlate.