US President Joe Biden’s decision to refuse to admit that the country has officially entered into a recession pushed the crypto market upwards once more. As a result, bitcoin, ether, and many other assets tapped multi-week highs.
The crypto market is known for its volatility, and bitcoin proved that in the past week or so. On July 20, the asset stood above $24,000, which was a local peak but dropped by almost $4,000 in the following days to a weekly low of $20,700 on July 26.the latest interest rate hike. Volatility indeed came, but, unlike the previous times, BTC headed north.
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Crypto Markets Add $100 Billion Following the Fed's 75 BPS Rate Hike (Market Watch)The crypto market cap has added around $100 billion in a day as the US Fed raised the interest rates aggressively.
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Bitcoin's 9% Price Increase and Ethereum's Return $1,600 Are Misleading: Crypto Market Review, July 28Fake rally or the end of the downtrend? The crypto market's bizarre reaction leaves investors puzzled
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