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Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points

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The Fed raised interest rates by 50 basis points (bps) following the Dec. 14 Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.25-4.5%.

Bitcoin reacted with an immediate 3.2% swing to the downside, bottoming out at $17,762 on the 19:00 (UTC) 5-minute candle.

Source: BTCUSDT on TradingView.com

The post Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points appeared first on CryptoSlate.

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