Bitcoin (BTC) & Ethereum (ETH) Market Response as Fed Holds Steady on Interest Rates

• The Federal Reserve has decided to maintain its key interest rate, causing further distress in the crypto market.
• Bitcoin and Ethereum have experienced a decrease in value, falling 4.6% and 1.3% respectively.
• Despite the daily downward trend, both Bitcoin and Ethereum have seen slight increases in the past hour.

Amidst the Federal Reserve’s decision to maintain its key interest rate, the crypto market experiences turbulence. Bitcoin and Ethereum see a decrease in value, yet show signs of slight recovery.

Federal Reserve Maintains Key Interest Rate

The Federal Reserve has elected to keep its key interest rate steady. This decision, part of the central bank’s ongoing efforts to combat inflation, has added to the existing turmoil in the crypto market. Federal Reserve Chairman, Jerome Powell, in his usual cautious tone, stated that the journey to achieving 2% inflation is challenging. He also mentioned that it is unlikely that the next policy rate move will be a hike.

Impact on Bitcoin and Ethereum

As a result of the Federal Reserv... Read the full article for FREE at COINOTAG!