The Fed’s ratehike was priced in, santimentfeed says. Bitcoin crypto
On March 16, the US Fed Reserve implemented a scheduled hike of the interest rate, raising it by 25 basis points. In the anticipation of the rate hike, the crypto market corrected down.
However, when the event finally took place on Wednesday, Bitcoin pared the 1.5 percent drop it faced in the anticipation of the rate increase – first since 2018. Since then, the crypto market has been in the green. According to the data provided by CoinMarketCap, the top 100 coins are showing a rise over the past 24 hours.
Analytics team of the popular Santiment on-chain data vendor believes that the altcoin surge has occurred because the rate hike has been partially “baked in”.
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