Written by 9:46 pm Cryptocurrency

Crypto Price Check: Fed Rate Hike Spurs Caution Among Traders

Cryptocurrency prices were off as traders reacted to the Federal Reserve‘s fourth consecutive rate hike.

Bitcoin was flat at $20,281.88 on Nov. 3, according to data firm CoinGecko. Ether, the native currency of the ethereum blockchain, was off slightly to $1,544.79, while dogecoin slipped 0.2% to $0.130632.

Stocks also moved lower Thursday, extending declines from last night’s post Fed-decision. 

“The Fed hiked rates by 75 bps yesterday, as many had predicted and as the market seemed to have priced in,” said Frank Corva, senior analyst for digital assets at Finder. “Both traditional and digital assets markets rallied upon the announcement.”

Source link