Bitcoin Price Soars To An Intraday High Of $38,820 After The Fed Leaves Interest Rates Stabilized

The Fed has signaled the first rate hike will take place in March. And this News caused Bitcoin price to skyrocket to the highest of the day. At the time of writing, BTC is changing hands at $38,118.

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BTC/USD 4-hour chart | Source: TradingView

Bitcoin price spikes to intraday high as Fed keeps rates unchanged

The Fed has indicated that it could raise rates in March but has no specific timeline for now. The central bank is expected to signal that it will raise interest rates.

The Fed’s hawkish shift has been seen as the biggest headwind for cryptocurrencies and equities. Earlier this week, Bitcoin dipped below $33,000 during a sell-off by analysts over an unfavorable macro environment.

Analysts believe that cryptocurrencies and other assets could benefit from the simple monetary policy implemented by the central bank.

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