Fed Raises Rates, Crypto Market Reacts with Fear and Greed

The Federal Reserve is expected to raise interest rates by 25 basis points on Wednesday, despite hopes from the crypto market for a status quo. The rate hike would lift the benchmark borrowing cost to the 4.75%-5% range and may see traders positioned for a pause trim their bullish exposure to bitcoin. The Fed is prioritizing banking sector stability over fighting inflation, and a pause might put a question mark on the efficacy of the measures announced and trigger panic.