Bitcoin holds above $40k after Fed hike
Bitcoin (BTC) held above the $40,000 level on Thursday amid a broader uptick in global equities as the U.S. Federal Reserve (Fed) hiked rates by 0.25% as expected.
Fed chair Jerome Powell signaled the U.S. economy was “very strong” and could handle monetary tightening, causing a jump in equities. Meanwhile, the Bank of England will also holds its policy meeting on Thursday and is expected to raise interest rates to their pre-Covid levels.
U.S. futures shed 0.51% in European hours while brent crude jumped 4% to near $100. Europe’s Stoxx 600 rose 0.22%, while Asian markets added a second day of gains with Hong Kong’s Hang Sang index rising 7% and Japan’s Nikkei 225 increasing 3.46%.
Fed chair Jerome Powell signaled the U.S. economy was “very strong” and could handle monetary tightening, causing a jump in equities. Meanwhile, the Bank of England will also holds its policy meeting on Thursday and is expected to raise interest rates to their pre-Covid levels.
U.S. futures shed 0.51% in European hours while brent crude jumped 4% to near $100. Europe’s Stoxx 600 rose 0.22%, while Asian markets added a second day of gains with Hong Kong’s Hang Sang index rising 7% and Japan’s Nikkei 225 increasing 3.46%.
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