Most other major cryptos were largely in the red, aligning with equities markets, which also wrestled with Powell’s remarks. The S&P 500, Wall Street’s benchmark equity index, closed down 1.5% and the Dow Jones Industrial Average (DJIA) and tech-heavy Nasdaq Composite dropped by 1.7% and 1.2%, respectively. The prospect of a 50 basis point (bps) interest rate hike instead of a more dovish 25 bps now rests at over 70%, roughly the reverse of the probability last week, according to the ЦМЕ ФедВатцх алатка.
Source: https://www.coindesk.com/markets/2023/03/07/bitcoin-edges-above-22k-again-equities-struggle-after-fed-chair-powell-says-rates-are-likely-to-be-higher/?utm_medium=referral&utm_source=rss&utm_campaign=headlines