Bitcoin declines on first day of FOMC interest rate surge $18,900 retreat
As the New York Stock Exchange in the United States fell all at once, most of the cryptocurrency markets, including Bitcoin, are on a downtrend.
According to CoinMarketCap, a global coin market relay 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 down 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 about the Federal Open Market Committee (FOMC) rate decision at the Monetary Policy Meeting of the central bank, the Federal Reserve. The market almost assumes that interest rates will rise by 0.75%p for the third time in a row at this FOMC. The probability that the interest rate will rise by 1%p is 17%, which is reflected in the futures 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.