{"id":14089,"date":"2022-09-21T19:29:48","date_gmt":"2022-09-21T19:29:48","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-ethereum-and-altcoins-hold-intraday-gains-after-fed-hikes-interest-rates-by-0-75\/"},"modified":"2022-09-21T19:29:50","modified_gmt":"2022-09-21T19:29:50","slug":"bitcoin-ethereum-and-altcoins-hold-intraday-gains-after-fed-hikes-interest-rates-by-0-75","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-ethereum-and-altcoins-hold-intraday-gains-after-fed-hikes-interest-rates-by-0-75\/","title":{"rendered":"Bitcoin, Ethereum and altcoins hold intraday gains after Fed hikes interest rates by 0.75%"},"content":{"rendered":"
Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third consecutive 75 basis point (bps) interest rate rise on Sept. 21.<\/p>\n
BTC’s price dropped circa 6.5% from its intraday high of $19,950, hitting $18,660 minutes after the Federal Open Market Committee’s statement. Its decline mirrored a similar sudden correction in the U.S. stock market, with the benchmark S&P 500 dropping 0.5% minutes after the Fed update.<\/p>\n