The price of Bitcoin (CRYPTO: $BTC) and other cryptocurrencies strengthened heading into the weekend after a volatile week dominated by an interest rate hike from the U.S. Federal Reserve
On the afternoon of Sept. 18, Bitcoin was up 6% and trading at $80,850 U.S. The largest cryptocurrency had been trading near $75,000 U.S. on the eve of the U.S. interest rate decision on Sept. 16. Other digital ****** ets were gaining strength at week's end, with Ethereum (CRYPTO: $ETH) also up 6% and Solana's (CRYPTO: $SOL) price rising 11%.
It's proving to be a quick recovery for digital ****** ets after the U.S. central bank raised its trendsetting Fed Funds Rate by 25 basis points, its first hike in three years. Crypto appears to be staging a relief rally as the market welcomes slightly higher interest rates that are used to dampen inflation.
More From Cryptoprowl:
U.S. Regulators Push Crypto Rules As Clarity Act Stalls
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On the afternoon of Sept. 18, Bitcoin was up 6% and trading at $80,850 U.S. The largest cryptocurrency had been trading near $75,000 U.S. on the eve of the U.S. interest rate decision on Sept. 16. Other digital ****** ets were gaining strength at week's end, with Ethereum (CRYPTO: $ETH) also up 6% and Solana's (CRYPTO: $SOL) price rising 11%.
It's proving to be a quick recovery for digital ****** ets after the U.S. central bank raised its trendsetting Fed Funds Rate by 25 basis points, its first hike in three years. Crypto appears to be staging a relief rally as the market welcomes slightly higher interest rates that are used to dampen inflation.
More From Cryptoprowl:
U.S. Regulators Push Crypto Rules As Clarity Act Stalls
#sept #digital
2 months ago
