Cryptocurrency Q&A
What happened to Bitcoin after fed hawkish turn?
What happened to Bitcoin after fed hawkish turn?
KpopHarmonySoul
Thu Jul 11 2024
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7 answers
1050
In the wake of the Federal Reserve's hawkish monetary policy shift, investors have been keenly watching the performance of Bitcoin. Could you elaborate on how the cryptocurrency has responded to this change in market sentiment? Has it experienced significant volatility? Have there been any notable trends in terms of price movement or trading volume? What factors do you believe have contributed most to Bitcoin's behavior following the Fed's hawkish turn, and what do you foresee for its future prospects in this environment?
7 answers
Bianca
Sat Jul 13 2024
Bitcoin suffered significant losses in early trading following the Federal Reserve's hawkish shift in monetary policy.
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SsangyongSpirit
Sat Jul 13 2024
On Wednesday, the Federal Open Market Committee of the U.S. Federal Reserve maintained its benchmark federal funds rate range at 5.25%-5.50%, as anticipated.
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DigitalBaron
Sat Jul 13 2024
However, the Fed's updated economic outlook indicated a more cautious approach, forecasting just one 25 basis point rate cut for the remainder of the year.
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Alessandro
Sat Jul 13 2024
This hawkish stance, which suggests a slower pace of monetary easing, sent shockwaves through financial markets, including the cryptocurrency space.
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KimonoElegance
Fri Jul 12 2024
Bitcoin, often considered a hedge against inflationary pressures and a refuge for investors during times of economic uncertainty, failed to maintain its gains in the wake of the Fed's decision.
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