DeFI News by Thebittimes.Com

Bitcoin fell towards the $20,000 mark on Thursday, after the U.S. Federal Reserve once again moved to increase interest rates. The Fed hiked rates by 75 basis points (bps), as it chose to maintain its current hawkish policy. Ethereum, which initially surged on the news, was also lower in today’s session. Bitcoin Bitcoin (BTC) dropped in Thursday’s session, as bearish sentiment rose, following the aftermath of yesterday’s Fed meeting. Following the Federal Reserve’s decision to maintain current hawkish policy by raising rates , BTC/USD surged to a peak of $20,742.81. However, this sentiment has shifted, as markets now expect this to be the last such hike by the Fed, who may begin to pivot. BTC/USD – Daily Chart BTC/USD fell to a low of $20,087.13 earlier in the day, and came as bears attempted to take the token below $20,000. As of writing this, the 14-day relative strength index (RSI) is now tracking at 51.84, which is below a floor of 53.00. ...

Fed Chair Jerome Powell. Source: Screenshot, YouTube/Federal Reserve Prices of major crypto assets could pump hard this week if the Federal Reserve in the US even hints at slowing the pace of rate increases later this year. The expectation that markets could rally this week leading up to – and potentially following – the Fed’s rate announcement on Wednesday is shared by both investment banks and members of the crypto community . However, opinions still differ on what a rally will look like and what exactly is needed for it to happen. It is widely expected by analysts that the Fed will raise rates by 75 basis points this week, but economists are unsure what will happen at the next Fed meeting in December. The expectation for a 75-point hike at this meeting is also shared by the market, with derivatives exchange CME’s FedWatch Tool currently indicating an 86% probability that the Fed will raise rates by 75 basis points. Notably, the tool also ...