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The Fed has increased the key rate. Bitcoin fell below $ 19,000

The Fed has increased the key rate. Bitcoin fell below $ 19,000

On Wednesday, September 21, the US Federal Reserve (Fed) increased the range of the key rate by 75 basic points at once, to 3-3.25%. The cryptocurrency market reacted with a fall.

“The Central Bank seeks to achieve maximum employment and inflation at 2% in the long run,” the Fed.

The department will also continue to reduce the reserves of treasury and mortgage securities, as well as agent debt. The Fed has once again noted global economic difficulties.

Against the background of news, the price of bitcoin fell below $ 19,000. In the moment of quotation of digital gold fell to $ 18,666.

Most cryptocurrencies from the TOP-10 on capitalization were in the red zone. More than others over the past day have lost XRP (-3.1%), Cardano (-0.8%) and Ethereum (-0.7%).

According to CoinmarketCap, the total capitalization of the cryptocurrency market is about $ 920 billion.

In March, the Fed for the first time since 2018 increased the key rate to 0.25-0.5%. Local rally cryptocurrencies lasted until April – Bitcoin and Ethereum reached the annual maximums.

In May, the Fed reached the rate – by 50 b. P. Against the background of the news, Bitcoin overcame $ 40,000, but on the same day it failed the level of $ 36,000, which was the beginning of a protracted correction.

In June, the Fed raised the key rate by 75 b at once. P. For the first time since 1994. The indicator reached the level of 1.5–1.75%, to which Bitcoin reacted with short -term growth to $ 22,000, and then collapsed below $ 18,000.

Recall, the July increase in the rate to 2.25–2.5% led August 24, 2022 to the growth of the cryptocurrency market. Bitcoin then overcame $ 22,000, and Ethereum – $ 1500.

At the end of summer, digital gold reacted to the performance of the head of the Fed Jerome Powell with a fall below the level of $ 21,000.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.

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