Crypto markets pared gains alongside traditional counterparts as the Federal Reserve increased interest rates by 50 basis points.
Bitcoin dropped 2%, trading at $17,926 at 2:20 p.m. EST following the announcement, according to TradingView data.
The central bank’s median projection for the Fed funds rate in 2023 rose to 5.1% from 4.6% in September.
U.S. stock indices fell following the Fed’s latest decision. The S&P 500 was down 0.4%, while the Nasdaq 100 dipped 0.7%.
Crypto-related stocks remained elevated, with Coinbase holding onto gains.
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Source: https://www.theblock.co/post/194902/bitcoin-crypto-prices-fall-on-feds-latest-decision-us-stock-indices-drop?utm_source=rss&utm_medium=rss