Bitcoin, Ether rally despite Fed raises interest rates for fourth time in 2022

0
12

Bitcoin BTCUSD, +1.27% jumped 9% over the past 24 hours, along with stocks’ rally, as the Federal Reserve Chairman Jerome Powell said that he doesn’t think the United States is in a recession. The Fed on Wednesday raised a key U.S. interest rate by 75 basis points, the fourth hike this year, in an aggressive bid to combat the hottest inflation in four decades. Ether ETHUSD, +2.43% rallied 16% to around $1,589, according to CoinDesk data. Most smaller coins are also in green. Binance Coin bnbusd advanced 10.3%, XRP XRPUSD, +1.44% rose 7.3%, and Solana SOLUSD, +0.30% gained 11.3%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleEarnings Outlook: Coursera stock walloped after earnings in latest downbeat signal for online education
Next articleDow ends up over 400 points, Nasdaq soars 4% as stocks rally after Fed rate hike

LEAVE A REPLY

Please enter your comment!
Please enter your name here