Bitcoin and ether sink lower, Fed fights inflation with new rate hike : This week in markets
The Fed upped interest rates on Wednesday, causing markets to crash before recovering.
Bitcoin and ether were both down over the past week after another volatile week of trading in which macroeconomic sentiment continues to guide prices.ether shed more than 11.54% and was trading at $1,299, at the time of writing CoinbaseEther has continued to decline since The Merge, JP Morgan said in a research note on Wednesday.
The decision to take the rate to 3% to 3.25% had been expected, with the market pricing in a rise of 75 basis points ahead of time; however, markets sold off sharply on the news.at the open on Thursday following reports that the U.S. Securities and Exchange Commission won't limit it in making payment-for-order-flow deals.
"The SEC’s latest decision to allow the payment for order flow model these platforms use is a major milestone in the argument, but it’s certainly not the end," she said.stopped short of doing that, the regulator still has space to make the practice a bit less lucrative.
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