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    Home » Crypto News » Bitcoin Volatility Skyrockets as Fed Announces 75 Basis Point Rate Hike

    Bitcoin Volatility Skyrockets as Fed Announces 75 Basis Point Rate Hike

    Author: Andrew Throuvalas

    Last Updated Jun 15, 2022 @ 18:56

    The central bank marks another record-breaking policy interest rate hike, sending Bitcoin’s price for a spin. 

    It gets crazier: Bitcoin fluctuated massively on Wednesday after the Federal Reserve announced an interest rate hike of 75 basis points. That’s the highest hike the central bank has attempted since 1994, showing urgency in its attempt to combat rising inflation.

    • At the time of writing, Bitcoin trades at $20,457. It shot as low as $20,079 at about 18:10 UST, after reaching up to $21,222 at about 17:55 UST.
    • Bitcoin has a tendency to experience volatility the moment the Federal Reserve announces an interest rate decision. However, the announcement’s true effects are often not felt until a few days after it takes place.
    • Last month, the Fed announced a 0.5% rate hike – the highest in 22 years at the time. Bitcoin pumped briefly after the reveal but dumped in the following days alongside the stock market.
    • The opposite may be true of this hike, however. Some believe that markets may have already priced in the rate hike after CPI inflation was reported at 8.6% last Friday.
    • This alone suggested that the central bank may hike rates faster than previously planned, despite ruling out 75-point increases at the previous meeting.
    • At the Federal Open Markets Committee Press Conference today, chairman Jerome Powell confirmed that the Fed will continue working “expeditiously” to bring inflation down.
    • That includes reducing the Fed’s balance sheet size and implementing more 75 basis point rate hikes in the future. However, decisions will be made “meeting by meeting,” with 50-point increases still on the table for next month.
    Bitcoin/ USD. Source: TradingView
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    Tags: Bitcoin Bitcoin (BTC) Price
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    About The Author

    Andrew Throuvalas
    More posts by this author

    Andrew is a content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide.
    Contact: Medium | LinkedIn | Twitter

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