Bitcoin Fell a Month After 12 of 16 Fed Hikes Since 2018, 99Bitcoins Finds
- —BTC rose a month later after only 4 of 16 hikes, with a median loss of 3.5%
- —After 44 holds, BTC was higher a month later in 28 cases, median gain 5.7%
- —The only hike of this cycle, on September 16, saw BTC gain 7.2% in a month
- —BTC trades at $79,792, 36.7% below its $126,080 record and just above the 50-week EMA of $78,637
Why it matters: History leans against bitcoin when the Fed hikes, but the weekly close versus the 50-week EMA and incoming inflation data will matter more.
Source: 99Bitcoins