Bitcoin falls below $35K after Fed meeting results

09.05.2022 08:29
by Artem Ustinov
1 min read

Bitcoin falls below $35K after Fed meeting results

The main cryptocurrency Bitcoin set a local low at $33.2k on the night of May 9th. Over the past seven days, Bitcoin has fallen in price by 14.5%.

Bitcoin price by TradingView

The main reason for the fall in Bitcoin quotes is the results of the Fed meeting. The Fed raised its key rate to 0.75%-1%. It also announced the launch of the QE program to reduce liquidity in early June.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

Trending news

Subscribe and be in touch
Click here