Bitcoin price whipsaws as Fed says rate hikes may not be 'appropriate'

During an ongoing, Fed Chair Jerome Powell appeared to play down the ongoing U.S. banking crisis and its aftermath, while hinting that the day's interest rate hike may be the last.

"It is too soon to determine the extent of these effects, and therefore too soon to tell how monetary policy should respond," he stated. BTC/USD initially saw local lows of $27,867 on Bitstamp around the events before returning to trade above $28,000, only to continue falling at the time of writing as markets continued to digest Powell's responses to press queries.

Dovish, yet not dovish?

Manipulation and all whales are the elite playing with us.....

were we watching the same press conference lol

Bitcoin's value is dependent on a decentralized and trustless system, unlike central banks which can manipulate their fiat currencies at will. MoneroIsTheWayToGo.

No BTC isn't shook up and no there are no indications that it will be the last. Most base case scenarios show at least one more rate hike. The market is also starting to price in the fact that Jerome Powell has made it clear there will be no rate cuts this year.

Last for this month

He said they will keep raising if need to lol

What?😂😂

Wtf?

Nothing about today's announcement or confidence suggested today would be the last hike.

🤣 or may not 🤣🍺

ReplyGPT

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