The Federal Funds rate has hit its highest level in decades as it touches 4.75%. Rates have been increasing since last year in an attempt the Fed has made to cool down the inflation. This has negatively impacted Stocks, Crypto, and Equities in the market. This time around though we aren’t seeing the same change in behaviour towards the Crypto market, Bitcoin has held steady and many other Cryptocurrencies are still on the rise profitably.
The large Crypto by market cap, Bitcoin, is at the time of writing, trading at $23,797.50. Up 42.71% in the past 30 days.
The S&P500 gained 0.2% and the Nasdaq rose 0.2%.
The Fed has stated that it will continue to up interest rates until inflation is under control at the 2% level. They do not intent to be as agressive as the previous year though when the rates were increase at 75 basis points per raise.
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