Bitcoin reaches $23,200 as Fed raises interest rates by 25 basis points

2023-2-1 22:11

The Federal Reserve raised interest rates by 25 basis points (bps) following the Feb. 1 meeting of The Federal Open Market Committee (FOMC).

This brings the Federal Funds Rate to 4.5-4.75%.

Bitcoin reacted with an immediate 1.2% swing to the upside, topping out at $23,200 on the 19:00 (UTC) 5-minute candle.

Source: BTCUSDT on TradingView.com

The post Bitcoin reaches $23,200 as Fed raises interest rates by 25 basis points appeared first on CryptoSlate.

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