Fed Hike VS CRYPTO

Cryptocurrency trading was slow on Wednesday as investors awaited the Federal Reserve's decision on interest rates. The best January for Bitcoin in 10 years may turn sour if the central bank delivers negative news. The price of Bitcoin increased slightly, around 0.26%, to $23,000 over the past 24 hours.

Despite being only a third of its late-2021 high, the 40% rise in Bitcoin's value this year due to an increase in risk appetite among investors has raised optimism among traders that the bottom of the bear market has been reached after the FTX bankruptcy in November.

An analyst at Oanda, Edward Moya, stated that the primary driver for cryptocurrencies is currently the appetite for risky assets and that if the Fed decision and tech company earnings fail to boost the market, a consolidation to $20,000 may occur.