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As Fed hikes rates to highest since 2008, Bitcoin and gold shine amid banking crisis

May 4, 2023
in Crypto Exchanges
Reading Time: 1 min read
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Fast Take

The Fed’s 25bps hike was anticipated, with a hawkish tone: “Some extra coverage firming could also be warranted.”
That takes the fed funds price to five.00-5.25% — the very best stage because the GFC 2008.
After Powell spoke, regional banks continued their spectacular collapse, and PacWest greater than halved in prolonged buying and selling when information got here out about strategic choices, together with a sale.
Throughout this present banking disaster, Bitcoin reclaimed $29,000 — whereas Gold printed a brand new all-time excessive.

Fed Funds: (source: ZeroHedge)
Fed Funds: (supply: ZeroHedge)
BTC + Gold : (Source: Trading View)
BTC + Gold : (Supply: Buying and selling View)

The submit As Fed hikes charges to highest since 2008, Bitcoin and gold shine amid banking disaster appeared first on CryptoSlate.

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