US Federal Reserve Speeds up Stimulus Withdrawal and Signals Three Rate Hikes in 2022

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Today’s Cryptocurrency Headline

The US Federal Reserve has announced that it will end its pandemic-era bond purchases in March and clear the path for at least three interest rate hikes in 2022 as the economy nears full employment and the US central bank copes with a surge of inflation. The US Federal Reserve decided to keep the target range for the interest rate at 0 to 0.25 per cent and reduce the monthly pace of its net asset purchases by $20 billion for Treasury securities and $10 billion for agency mortgage-backed securities, doubling from the current pace of withdrawal of $15 billion every month.

BingX’s Bitcoin Chart

BTC price analysis
Source: TradingView& BingX

BTC price is trading around $47,000, and ETH has dropped to $3,800 again. Despite the news from the US Federal Reserve and a 4% price increase. There are still no signals for a reversal in the 4-hour chart. The $50,000 to $53,000 area is still a strong resistance for BTC. The crypto Fear and Greed index is showing the market is out of “extreme fear” territory. 

 

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