Bitcoin at $43K
Bitcoin is moving back upwards over $43K this morning and we could see a swing in the upward direction – or continue to build at this point in the low-$40K range – it’s Bitcoin so who knows
Bitcoin clings to $43K as Fed signals up to 7 rate hikes in 2022
“Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying just below the $43,000 mark as trading began Thursday.
At the time of writing, U.S. markets were still in the process of steadying in their first hour, these of particular importance to Bitcoin traders given the considerable positive correlation between BTC and equities. This week, it emerged that the correlation between BTC/USD and the S&P 500, for example, had hit its highest in nearly 18 months.
Back in focus on the day was the Federal Reserve. In a widely reported Q&A session, Neel Kashkari, President of the Minneapolis Fed, revealed that there could be up to seven key rate hikes this year.
While potentially not all necessary, he explained, the Fed needed to deal with the issue of inflation.”