Market Wrap: Bitcoin Declines on Fed Rate Projection

Cryptocurrencies were mostly lower on Wednesday despite a brief 3% jump in bitcoin after the U.S. Federal Reserve maintained accommodative monetary policy.

But the gains were short-lived as risk assets pulled back, with traders focusing on Fed officials’ revised projection for interest rate increases by the end of 2023 – sooner than what was anticipated in March.

Latest Prices

  • Bitcoin (BTC) $38577.3, -2.71%
  • Ether (ETH) $2415.5, -4.05%
  • S&P 500: 4223.76, -0.54%
  • Gold: $1826.61, – 1.7%
  • 10-year…

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