Bitcoin drops on first day of $18,900 FOMC interest rate hike retreat
As the New York Stock Exchange in the United States fell all at once, most of the digital currency markets, including Bitcoin, are on the decline.
According to CoinMarketCap, a global coin market exchange site, as of 7:59 am on the 21st, the price is trading at $18,950, down 3.47% from 24 hours ago.
Last night, the Dow fell 313.45 points, or 1.01%, from the battlefield to 37,06.23. The Standard & Poor’s (S&P) 500 closed 43.96 points (1.13%) to 3855.93. The Nasdaq fell 109.97 points, or 0.95%, to close at 11,1425.05.
Shares fell on concerns over the Federal Open Market Committee’s (FOMC) rate decision at the central bank’s Monetary Policy Meeting, the Federal Reserve. The market is almost assuming that interest rates will rise by 0.75%c for the third time in a row at this FOMC. The probability that the interest rate will rise by 1%c is 17%, which is reflected in the future price, and the final interest rate is expected to be 4.49% by March 2023.
At the same time, on the virtual currency exchange Upbit, Bitcoin recorded 26.8 million won, down 2.66% from the previous day. Ethereum is trading at 1,884,500 won, down 2.89% per 1 ETH (unit).
Ada is trading at 625 won per 1ADA (Ada unit), down 2.19%. Ripple traded at 587 won per 1XRP (unit), up 8.30% from the previous day.
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