Bitcoin Rises Modestly After U.S. Federal Reserve Raises Interest Rates

07/26 19:10

Bitcoin experienced a slight increase in price following the expected 25 basis point interest rate hike by the U.S. Federal Reserve. The federal funds rate target range is now 5.25%-5.5% after the Federal Open Market Committee meeting on Wednesday. Despite remaining within a narrow range of $29,000 to $31,500 for over a month, the world's largest cryptocurrency by market capitalization rose by 0.3% to $29,354 according to CoinGecko.
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