Crypto Markets Today: Bitcoin BTC Price Slogs Near $29 2K While DOGE Dogecoin Price Spikes Ahead of Likely Fed Rate Hike coindesk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coindesk.com Daily Mail and Mail on Sunday newspapers.
Ether declined more than 3% to $1,650 less than three hours after the Fed ended its more than year-long diet of interest rate increases. ADA plunged more than 5%, while SOL and Matic each dropped over 4%.
We expect the Fed to deliver a final hike of the tightening cycle bringing the Fed Funds Rate to 5.00-5.25%. With no updated projections and markets already pricing in around 20bp ahead of the meeting, the main emphasis will be on Powell's verbal guidance.