The FOMC increased interest rates by 0.75 percentage point while indicating ‘unusually large’ hikes may be appropriate in future meetings; Bitcoin’s price jumps.
The Federal Reserve is acting on behalf of commercial banking interests to crush asset prices. Can bitcoin compete in a world of coordinated inflation?
Rising interest rates may seem bullish for the bitcoin price, but a credit market unwind and hawkish central bank means a market selloff in the short term.