Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain Near Multi-Month Lows Following Fed Rate Hike

Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain Near Multi-Month Lows Following Fed Rate Hike


Ethereum dropped below $1,300 on Thursday, as markets continued to react to the U.S. Fed’s latest decision to raise interest rates. Following speculation of a 100-basis-point hike, the Federal Reserve hiked rates by 0.75%, as it continues to struggle against rising consumer prices. Bitcoin also declined, moving close to the $18,000 level.

Bitcoin

Bitcoin (BTC) moved closer to $18,000 on Thursday, as markets slipped following the latest U.S. Federal Reserve policy meeting

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The Fed opted to increase interest rates by 75 basis points on Wednesday, with Chair Jerome Powell hinting at further moves, stating, “In my view, there’s a way to go.”

As a result of this, BTC/USD fell to an intraday low of $18,290.32, which is its lowest level in three months.

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