The Magazine for Asian Investors
Bitcoin price has fallen from $19,000 this morning. This is because investors are concerned about the impact of the Federal Reserve (Fed) accelerating interest rates.
Bitcoin fell $1,202.35 or -6.15%, to $18,803.43
Ethereum fell $152.51, or -10.48%, to $1,304.13
Anthony Trenchev, an analyst at cryptocurrency lender Nexo, said crypto markets have been hit by macroeconomic concerns, including concerns that the Fed’s accelerated rate hikes could hurt liquidity in risky asset markets, including the crypto market.
The latest data from CME Group’s FedWatch tool shows that 86% of investors expect the Fed to raise rates by 0.75% to 3.00-3.25% at its September 20-21 meeting, and 14% expect the Fed to raise rates by 1.00%.
If the Fed raises rates by 0.75% in September, it will be the third time it has raised rates by 0.75%, having already raised 0.75% in June and July. If the Fed raises rates by 1.00%, it would be the largest rate hike in 40 years.
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Monday, September 19, 2022