The Federal Reserve left the benchmark rate unchanged at 5. 25%-5. 50%, with a single rate cut of 25 basis points expected this year.
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Bitcoin witnessed a remarkable surge, breaking the $66,000 barrier within just two hours following the Fed’s announcement, up from the day’s low of $60,976.
This decision marks the second consecutive time the central bank has chosen this course, reinforcing its cautious stance in response to the current economic landscape.
On Wednesday, the Federal Reserve implemented a highly-anticipated interest rate hike, pushing benchmark borrowing rates to their highest level in over 22 years. Following the rate hike, prominent figures from the crypto industry weighed in on its potential impact on the crypto market. Read on to discover how investors are navigating the storm and what implications it holds for the future.
Ruslan Lienkha shares his thoughts on their strategies, inflation trajectory, and the challenges they face amid economic uncertainties.