The Fed Has Spoken, $89M of Long Positions Liquidated, but the Price of Bitcoin Retains Support at $26.8K and Still Looks Towards $30K.
BTC Price Update.
Yesterday, I told you about the 3 potential scenarios for the second Fed FOMC Meeting in 2023. It is finally scenario 3 that came true. The one that had the highest probability of happening since Jerome Powell announced the decision of the FOMC: 25 basis points increase in key rates.
The Fed's key rates are now between 4.75 and 5%.
Upon the announcement of this FOMC decision, the markets did not respond. The price of Bitcoin remained flat as did the S&P 500 and the Dow Jones.
As I told you yesterday, everyone was mostly waiting to hear what Jerome Powell would say next at the press conference.
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