In this episode of NewsBTC’s daily technical analysis videos, we look at the volatility in Bitcoin price action following the FOMC meeting today where the Federal Reserve announced a 75 bps rate increase.
Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): September 21, 2022
Bitcoin price action has been ultra volatile before and after the United States Federal Reserve announced its decision to increase rates by 75 basis points. Although the market had been considering as much as a 100 basis points increase from the increasingly hawkish Fed, the central bank ultimately chose a slightly softer touch.
Fed Chair Jerome Powell expects rate increase to continue well into next year, with inflation not returning to the normal 2% rate until at least 2025.