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Here’s why a 0.75% Fed rate hike is bullish for Bitcoin and Altcoins:

S&P 500 and Nasdaq Composite Index Investors Recognize That The Federal Reserve Must Continue Aggressive Monetary Policy To Curb Inflation, Which Could Lead To A US Recession Concerned, it posted its worst weekly performance since June.

Bitcoin (BTC) has been closely correlated with the S&P 500 and is trending down more than 9% this week. Goldman Sachs strategist Sharon Bell has warned that aggressive rate hikes could trigger a 26% drop in the S&P 500, so if this correlation continues, it could hurt crypto markets further. There is a nature.

Daily view of crypto market data. sauce: Coin360

While most expect the Fed to raise rates by 75 basis points at its next meeting on Sept. 20-21, the FedWatch tool puts a 18% chance of a 100 basis point hike. is shown. This uncertainty can put traders at risk and increase short-term volatility.

Some cryptocurrencies could attract buyers if the Federal Reserve rate hike is in line with market expectations. Let’s examine the charts of five cryptocurrencies that are positive in the short term.