All the flagship crypto assets showed a significant inflow of money, just after the new Fed’s hike announcement.
Q1 2023 was a very big disaster for the US economy. On one side Bitcoin saw a significant increment in its trade price, on the other side 5 US-based big banks saw a big downfall. The bad financial situation of the US economy also shook the minds of finance policymakers.
The Federal Reserve announced a 25 basis point hike on Wednesday, raising the federal funds rate between 5% and 5.25% for the first time since 2007.
Few people think that the Fed is still waiting to give more hikes and push inflation above.
Because of the Fed’s decision, many big investors showed trust in risky assets, including cryptocurrencies. In case of increasing Inflation, people usually move toward flagship assets investment & also here they are doing the same.
Today we can see that the crypto market is fully green. The current trade price of Bitcoin is $29,158 & this trade price is 1.83% high than the last 24 hours’ trade price.
The all-time high of Bitcoin is $69k per BTC, which hit in 2021 under the influence of Tesla CEO Elon Musk.
We can also see a similar increase in the price of other crypto assets.
Bitcoin Greed index
The current Bitcoin greed & fear index is 64, which means people are fully confident to trade with crypto assets.
Google Trends are also showing that the majority of Google searches about Bitcoin is constant over the last 7 days, which means people are not losing any interest in Bitcoin investment nowadays.