Market Wrap: Shares rise, cryptos fall after the Fed announces a smaller interest increase in March

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Von: Krypto News Österreich

Bitcoin
  • Powell said on Wednesday that the Fed is planning to increase interest rates by a quarter, but they would have to be "flexible".
  • gold and Bitcoin sank, while stocks rose, which indicates that Bitcoin may have a correlation for secure ports

! Function () {"Use strict"; Window.Addeventlistener ("Message", (function (e) {if (void 0! == e.data ["datawrapper-Height"]) {var t = document.queryselectorall ("iframe"); for (var a in E.Data ["Datawrapper-Height"]) for (var r = 0; r The chairman of the US Federal Reserve, Jerome Powell, told the Congress on Wednesday that he supported an interest rate increase by a quarter of the point in March, but that factors-including the war in Ukraine-would play a role in upcoming decisions.

"The short-term effects of the invasion in Ukraine, the ongoing war, sanctions and the upcoming events on the US economy remain extremely uncertain", said Powell .

"We have to be able to react flexibly to incoming data and the developing prospects."

The increase by a quarter point was lower than originally stated by the Fed, which led to a strong increase in stocks. While the stocks rose, secure systems such as gold and government bonds fell.

Bitcoin and other cryptocurrencies also fell, which indicates that Bitcoin's recent tendency to behave like a risky tech game is ended and it is more likely to be seen as a safe port in the middle of the geopolitical turbulence that arises from the Russian invasion in Ukraine.

The S&P 500 increased by 1.86 %, while Nasdaq and Dow increased by 1.7 % and 1.79 %.

Bitcoin fell by 1.44 % until the end of the stock trading, making up the decline of gold. Ether also suffered a blow and lost almost 1 %that day. The Anchor Protocol, which operates crypto savings accounts, was today the biggest winner among the top 100 coins after market capitalization.

Top stories

story: The Ukrainian government is preparing the first Airdrop of its kind for crypto donor

  • The government has not provided any additional information about what the air drop on Thursday will bring
  • Since Ukraine started her unconventional crowdfunding efforts on February 26, she has accumulated over $ 30 million from around $ 50,000

story: Crypto company Consensys under the fire of shareholders who are calling for an examination

  • 35 shareholders have submitted an application to investigate the transaction in Swiss courts
  • A Consensys spokesman rejected the allegations as "factually incorrect"

story: The Defi trading platform leads round under the direction of Alan Howard in Social Investing Push through

  • The developer wants to build a new team by using the funds used for its Meta Services Productsuite, which is aimed at prospective web3 developers
  • The developer said that he aims to serve as an infrastructure layer for "the entire web3 ecosystem".

Story: Survey: A third of women plans to buy crypto

this year
  • about 1 of 4 women already has crypto, according to the survey
  • other sub-sectors in the industry remain largely undeveloped by women, since only 5 % bought an NFT or participated in the crypto mining

go forward

Time will show whether Bitcoin will continue to correlate with other safe ports - in contrast to his latest correlation with technology stocks. Both cryptos and stocks should remain volatile in the short to medium term if the events in Ukraine develop.

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The Post Market Wrap: Shares increase, cryptos fall after the Fed announces a smaller climbing increase in March, there is no financial advice.