The price of Bitcoin dropped sharply following the Federal Reserve’s announcement that it would hike interest rates by 75 basis points to combat sky-high inflation.
The biggest cryptocurrency by market cap dropped below $19,000 following the announcement before rebounding amid widespread market volatility. It’s now trading at roughly $19,039, down around 1% over the last hour. Bitcoin is also down approximately 5.7% in the past seven days.
Market analysts had expected the Fed to raise…
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