Bitcoin Prices Rise After The Fed Raises Interest Rates

asset market crypto seemed to shine this morning, Thursday (16/6/2022). Reporting from Coinmarketcap this morning, 9 of the 10 largest market cap crypto assets have moved in the green in the last 24 hours.

The brightest cryptocurrency value was Solana (SOL) which jumped 17.4 percent to $34.21. Polkadot (DOT) also rose 12.8 percent to 8.2 US dollars, and Dogecoin or DOGE rose 11.6 percent to 0.06 US dollars.

The increase was followed by Cardano or ADA by 10.7 percent to 0.52 US dollars, XRP also rose 7.25 percent to 0.3 US dollars, and Binance Exchange (BNB) rose 5.15 percent to 231.2 US dollars. .

Then, the price of the largest crypto asset by market capitalization, namely Bitcoin or BTC also rose 3.2 percent at the level of 22,491 US dollars, and Ethereum (ETH) also rose 3.06 percent at the position of 1,222 US dollars.

This morning Tether (USDT) was down 0.01 percent at 0.9 US dollars, and USD Coin (USDC) was up 0.01 percent to 1 US dollar. For information, USDT and USDC are crypto currencies of the stable coin class or types of cryptocurrencies created to offer stable prices against the US dollar.

Quoted from Coindesk , the price of Bitcoin (BTC) fluctuated after the Federal Reserve announced further monetary tightening on Wednesday. BTC briefly fell to as low as 20,270 US dollars within minutes of the Fed's statement, but an hour after the announcement, bitcoin prices began to rise.

"The market hates uncertainty. Digital assets have been significantly correlated with US financial markets in recent months, both of which have continued to weaken. The decline in downward volatility will likely only be achieved with a pause or reversal in the Fed's current policy and direction," said Josh Olszewicz, head of research. in Valkyries.