Bitcoin jumped 3% after the Federal Reserve on Wednesday raised its key interest rate by a quarter of a percentage point, but signaled that only “a couple more” rate increases may be needed before the central bank takes a pause on its fight against inflation.
The largest cryptocurrency
BTCUSD,
rose to as high as $23,650 on Wednesday, up 2% over the past 24 hours, according to CoinDesk data. The move coincided with a rally in technology stocks, with the Nasdaq Composite
COMP,
rising 2% Wednesday, according to FactSet data.
