The Federal Reserve’s June FOMC announced a 75-basis-point rate raise to 1.75 percent, which was reported overnight. Since 1994, the single rate hike has reached an all-time high. It was updated to March 2020 after this rate hike. level before the epidemic.
However, the market has already made a decision on this result, as expected data from the US federal funds rate futures trading market released on Tuesday showed that the probability of the Fed raising interest rates by 75 basis points this time has increased from 3.9 percent a week ago to 89 percent. The clear “hawk rate hike” did not cause significant damage to the financial market because it was well-prepared, but in the context of advance pricing, due to Powell’s press conference on “the rate hike of 75 basis points is too large, not “will become a regular policy” statement, the cryptocurrency market and the European and American stock markets ushered in a short-term retaliatory rebound, regaining some of the ground lost during the poor start of the first half of the week.
Risk assets such as U.S. equities and cryptocurrencies moved substantially in the near term after the Fed’s June resolution was released, and once reversed the comeback momentum earlier in the day. Risk assets often rebounded after being influenced by the term “policy.”
Since the beginning of the year, both Bitcoin and Ethereum have recovered from their 18-month lows. At the time of writing, Bitcoin was reporting 22,700 U, close to the 23,000 U integer threshold. Yesterday, Ethereum successfully recaptured the 1,200 U integer mark at the same time. There are no intraday declines.
