Bitcoin climbed past $28,000 on Tuesday as the FOMC started its two-day monetary policy meeting to decide on a potential interest rate hike. The CME FedWatch Tool shows that over 87% of traders are predicting a 25 bps rate hike. _jocelynyang_ reports
) climbed past $28,000 on Tuesday as the U.S. Federal Reserve's Federal Open Market Committee started its two-day monetary policy meeting to decide on whether to increase the interest rate again.shows currently that over 87% of traders are predicting a 25 basis point rate hike on Wednesday, which would set the federal funds target rate range to between 4.75% and 5%.
"Risk appetite is rallying on optimism the Fed is almost done with tightening and that they will help prevent financial stability concerns from getting out of hand,” Edward Moya, senior market analyst at foreign exchange market maker Oanda, wrote in a Tuesday note.
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