Bitcoin edged closer to the $30,000 level on Thursday, as markets reacted to the Federal Reserve’s decision to hike interest rates. The Fed increased rates by 25 basis points, and have hinted that they could make an additional move in September. Ethereum neared the $1,900 level today.
Bitcoin
Bitcoin (BTC) remained in the green on Thursday, as markets reacted to the latest Federal Reserve interest rate decision.
After deciding on a 0.25% hike, Fed Chair Jerome Powell stated that “It is certainly possible that we would raise funds again at the September meeting if the data warranted.”
BTC/USD surged to an intraday high of $29,675.55 on Wednesday, following an earlier low of $29,162.46.
The move began after the relative strength index (RSI) bounced from a floor at 42.00. It is now hovering around a ceiling at 47.00.
The exact reading is at 46.65, which has prompted some earlier bulls to abandon previous positions, and secure profits instead.
Traders are likely waiting for the upcom
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