The Federal Reserve raised interest rates for the first time since 2023, increasing the benchmark federal funds rate to a range of 3.75% to 4%. Bitcoin’s price swung before settling largely unchanged over a 24-hour period, recently trading near $75,813 after dropping to $75,355. Over a seven-day period, the cryptocurrency is down nearly 4%. Federal Reserve Chair Kevin Warsh emphasized price stability as the central bank’s top priority, seemingly going against President Donald Trump’s calls for lower rates. Bitcoin typically performs well in a low interest rate environment due to increased liquidity available to purchase the asset.
Source: Read the original article
