The crypto market is surging Wednesday afternoon, led by Bitcoin (CRYPTO: BTC) and Ethereuem (CRYPTO: ETH), after the Federal Reserve raised the target fed funds rate by three-quarters of a percentage point.
The Fed on Wednesday hiked rates by 0.75%, bringing its target fed funds rate up to a range of 2.25% to 2.5%.
The bond market had been pricing in a 50% chance that the Fed would raise rates by 1%, as reported by Benzinga earlier in July. The 0.75% hike is easing concerns surrounding the potential for a more …
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