As Fed hikes rates to highest since 2008, Bitcoin and gold shine amid banking crisis

Quick Take The Fed’s 25bps hike was expected, with a hawkish tone: “Some additional policy firming may be warranted.” That takes the fed funds rate to 5.00-5.25% — the highest […]

Quick Take

The Fed’s 25bps hike was expected, with a hawkish tone: “Some additional policy firming may be warranted.”
That takes the fed funds rate to 5.00-5.25% — the highest level since the GFC 2008.
After Powell spoke, regional banks continued their spectacular collapse, and PacWest more than halved in extended trading when news came out about strategic options, including a sale.
During this current banking crisis, Bitcoin reclaimed $29,000 — while Gold printed a new all-time high.

Fed Funds: (source: ZeroHedge)
BTC + Gold : (Source: Trading View)

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