Major cryptocurrencies fell on Wednesday, after the Federal Reserve kept interest rates unchanged at the end of its two-day June meeting, but senior officials suggested another 50 basis points of rate hikes remain on the table, if inflation doesn’t slow faster.
Ether... Major cryptocurrencies fell on Wednesday, after the Federal Reserve kept interest rates unchanged at the end of its two-day June meeting, but senior officials suggested another 50 basis points of rate hikes remain on the table, if inflation doesn’t slow faster. The central bank’s “dot plot” forecast also pointed to the possibility of the Fed hiking again this year, as it shows the benchmark rising to a range of 5.5% and 5.75%. The Fed’s prior projected terminal rate was the current range of 5%-5.25%.
“Crypto tracked in line with stocks after the Fed press release and conference, and there weren’t any surprises. Given how thin trading volumes are at the moment, a sizable sell order is enough to set off liquidations,” Safai wrote in emailed comments.
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