Feb 2
1 min read
Altcoins Continue To Move up Following Fed’s 25bps raise. Check Recent Price Performance
As expected, the Fed increased its benchmark interest rate only by 0.25% on Wednesday with a hawkish tone warning that more increases would be needed to bring inflation under control.
Even though the inflation eased over the last several months, it still remains elevated and far away from the bank’s 2% target. Depending on the January US CPI reading that is going to be published on February 14th, 2023, we believe the Fed will do another 0.25% hike in March, after which they will announce the end of the hiking cycle.
Both equities and digital assets responded positively to the news.
Biggest Winners From The Fed’s Interest Rate Hike
These are gainers of the FOMC event:
- KSC +3% — see performance
- AAVE +2.9% — see performance
- MATIC 2.6% — see performance
- APE +2.2% — see performance
- BTTOLD +2.2% — see performance
