Bitcoin, crypto boosted by Fed relief rally, investors ‘bracing for the worst’ get surprised

The Federal Reserve’s surprisingly hawkish policy turn has had a surprise beneficiary: Cryptocurrencies.

Digital coins extended gains on Thursday after the Fed stepped up its taper, and laid the foundation for a tightening cycle that could bring as many as three rate hikes in 2022. Normally, cryptocurrency benefits from loose monetary policy and its inflationary side-effects; but at least for now, investors are taking the longer view.

Bitcoin (BTC-USD), barely a week removed from an ugly…


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