Fed Hikes Rates to 3.75%-4%, Crypto Holds Steady
The Federal Reserve raised its benchmark rate by 25 basis points to 3.75%-4.00% on September 16, the first hike since July 2023. Bitcoin traded between $75,000-$76,500 and Ether between $2,370-$2,430 with no outsized reaction, suggesting the move was largely priced in. Fed projections now point to a 4.1% median rate through 2027, while the 10-year Treasury yield hit 5.04%, raising the carrying cost for non-yielding crypto assets.
Disclaimer
This content is provided for general informational purposes only and may include information relating to products or services that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell or hold any crypto/digital asset; or (iii) financial, accounting, legal or tax advice. Crypto/digital assets, including stablecoins, involve a high degree of risk and may fluctuate significantly in value. You should carefully consider whether trading or holding crypto/digital assets is suitable for you in light of your financial condition and risk tolerance, and seek independent professional advice where appropriate. Information contained in this content, including market data and statistical information, if any, is provided for general information purposes only. While reasonable care may be taken in presenting such information, BloFin does not guarantee its accuracy, completeness or timeliness and accepts no responsibility or liability for any errors, omissions or inaccuracies.