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Bitcoin, other cryptos drop as Fed raises interest rates

The Fed’s decision to hike rates by 25 basis points was along expected lines. So, why are the markets sulking?

Welcome to The Daily Forkast – March 23, 2023 – presented by Megha Chaddah for the latest in the crypto markets.

Bitcoin fell on Thursday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the US Federal Reserve hiked interest rates on Wednesday. Bitcoin dropped 2.53% to US$27,355. Ether’s at US$1,739. XRP was the biggest loser sliding 8.66% to US$0.4219.