BTC Consolidates as FOMC Indicates Further Rate Hikes to Come – Market Updates Bitcoin News.
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Bitcoin consolidated marginally below $17,000, as market volatility remained high following the recent Federal Open Market Committee (FOMC) minutes. In December’s meeting, the U.S Federal Reserve agreed to maintain hiking rates, with inflation still near historic highs. Ethereum also remained close to recent highs on Thursday.
Bitcoin
Bitcoin (BTC) mostly consolidated on Thursday, as price failed to break out of the key level of $17,000 yesterday.
Following a high of $16,964.59 on hump day, BTC/USD slipped to an intraday low of $16,789.75 earlier in the session.
The drop comes as markets reacted to the latest FOMC minutes, where the Fed have seemingly agreed to maintain interest rate hikes.
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