Bitcoin's Volatility Continues Amid Fed's Inflation Concerns.
TL;DR Summary
Bitcoin erased this week's gains after the Federal Reserve raised interest rates and Chair Powell dismissed the notion of rate cuts this year due to high inflation. Ethereum also fell 3.2%. Crypto-exposed stocks, including MicroStrategy, Riot Platforms, Marathon Digital, Coinbase Global, and Hut 8 Mining, traded in a sea of red. However, some investors have re-ignited their trust in Bitcoin as a better safety asset, thus driving a renewed growth surge.
Topics:business#bitcoin#crypto-exposed-stocks#cryptocurrency#ethereum#federal-reserve#interest-rates
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