Bitcoin Tumbles With Stocks Following Fed Chair Remarks

[Google News Bot]

Bitcoin quickly followed stocks in a sell-off Wednesday—erasing modest gains—after Federal Reserve Chairman Jerome Powell said the central bank might continue its aggressive monetary policy. Things were looking bright for the largest cryptocurrency by market cap—at first. The Fed announced its expected interest rate hike of 75 basis points and traders interpreted the news as perhaps the last time the Fed would do so. Bitcoin, Ethereum and the wider crypto market rose with stocks following the announcement. But Fed Chairman Jermone Powell said shortly after in a press confere ...

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