The recent Fed interest rate announcement has had a significant impact on the cryptocurrency market. Bitcoin, the world’s largest cryptocurrency, has seen its price fluctuate in recent days as investors weigh the potential impact of higher interest rates on the overall market.
Bitcoin Price Movements
In the lead-up to the Fed announcement, Bitcoin’s price had been on a downward trajectory. However, the cryptocurrency saw a slight uptick in price following the announcement that the Fed would be leaving interest rates unchanged. However, this uptick was short-lived, and Bitcoin’s price has since fallen again.
On-chain data for Bitcoin shows that there has been a recent increase in the number of addresses, transactions, and wallet counts across various Bitcoin holdings. This suggests that there is growing interest in Bitcoin, even as its price remains volatile.
Liquidation data shows that there has also been a recent increase in the amount of Bitcoin being liquidated. This suggests that some investors are selling their Bitcoin holdings at a loss, potentially due to the current market volatility.
Fed Interest Rate Announcement
The Fed’s decision to leave interest rates unchanged was largely expected by investors. However, the Fed’s emphasis on the battle against inflation has raised some concerns about the potential for future interest rate hikes. If the Fed does raise interest rates in the future, this could have a negative impact on the cryptocurrency market, as it would make riskier assets such as Bitcoin less attractive to investors.
Chey Crypto Membership
Cheeky Crypto is a membership program that offers subscribers access to exclusive videos and walking talks on the cryptocurrency market. In the video that was used as the basis for this article, Cheeky Crypto promotes the membership program and suggests that they may release future videos and walking talks on the topic of Bitcoin price analysis and on-chain movements, particularly in light of the recent Fed interest rate announcement.