bitcoin

Bitcoin jumps 3% after Powell says 'disinflation' underway – MarketWatch


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,
+3.35%

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,
+2.00%

rising 2% Wednesday, according to FactSet data.



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