The Latest Situation in Bitcoin and Altcoins Before the FED Interest Rate Decision

Bitcoin (BTC) rose above $ 28,500, shortly before the interest rate decision to be announced by the US Federal Reserve (FED).

The recent US-based banking crisis was initially caused by Circle’s (USDC) Silicon Valley Bank (SVB) bank. 3.3 billion dollars shock effect in the crypto money market with the announcement of its existence lived And drop had brought.

But later, due to the FED printing money for the banks. dollar will depreciate in Bitcoin and stocks a rise made it live.

since the beginning of the year more than 70% Bitcoin, which has been performing on the rise, has been on the rise since the previous interest rate decision. It rose 25%.

Hours Left for Critical Interest Decision

The interest rate, which will be very effective in the direction of Bitcoin, is determined by the FED. A few hours later will be announced. policy rate last year 4 times 75 bases FED, which increased the score, will be at the end of 2022. 50 basis points, at the first meeting this year 25 bases had increased by points.

with Turkey time today at 21.00will be announced in interest rate 25 bases with a point increase 4.75-5% to range predicted to increase is being done.

What About Bitcoin and Cryptocurrencies?

According to CoinGecko data last 7 days in over 15% appreciated bitcoinlast week a critical resistance zone the one which… $28,000-28,500 dollars to the band rose up. bitcoin displayed in the last 24 hour period at the time of writing. 2.1% increase with from $28,841 is being traded.

Similar rises are observed in the same period in the 10 most valuable cryptocurrencies by market value:

  • Ethereum (ETH) 6.8% with an increase 1,823
  • BNB (BNB) 6.9% with an increase 330,
  • Ripple (XRP) 19% with an increase 0.445,
  • cardano (ISLAND) 11.4% with an increase 0.383,
  • wither (LEFT) 9.7% with an increase 22.98,
  • dogecoin (DOGE) 3.1% with an increase 0.0777 traded in dollars.

Bitcoin’s total market cap $557 billionif the total value of the cryptocurrency market $1.24 trillion watching levels.

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