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The cost of the first cryptocurrency on the evening of September 21 sharply approached the mark of $22 thousand, after which it collapsed to a record low of $18.1 thousand.
On the night of September 22, the bitcoin rate fell to $18.1 thousand for the first time since June 19. Cryptocurrency fell in price by almost $2,000 in 4 hours, after which it began to gradually grow in price. As of September 22, 10:25 Moscow time, the asset is trading at $18.8 thousand, over the past day its value has not changed much – it is declining by 0.14%.
The collapse of the bitcoin rate occurred after the meeting of the US Federal Reserve at the rate. The regulator raised the rate by 75 basis points – from 2.25-2.5% per annum to 3-3.25% per annum. Up 75 bp takes place for the third meeting in a row. The increase in rates is associated with high inflation, which has reached a maximum over the past 40 years.
Rate increase by 0.75 p.p. was expected by the market. The probability of this event was 85%, according to the FedWatch tool, which is calculated by the CME exchange based on rate futures. Now the futures market is setting a rate hike to 4.5% by April 2023.
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