Fed’s Moves To Fight Inflation Unfavorable For BTC Traders In Short-Term

The raging inflation and the Federal Reserve’s approach to fighting it have seemingly affected the crypto market negatively. The first sell-off trend started when the Feds announced an interest rate hike in July 2022. Even though the Terra Luna crash worsened the situation, the market was already on the brink of collapse. Many people panicked and didn’t want to pay high interest on their crypto gains. Since then, the Feds have come up with many unfavorable decisions in the inflation fight. Recently, Jerome Powel announced a stricter approach on August 26, causing another downtrend in the crypto market and beyond. Related Reading: WATCH: Bitcoin Versus DXY And The Dangerous TD9 Setup | Daily TA August 30, 2022 Many cryptocurrencies lost price gains after the meeting until August 30, when some positive changes occurred. These incidents have attracted the attention of top players in the crypto market, such as Brian Brooks, Bitfury CEO. Fed’s Approach Affects Short-Term BTC Traders More In a recent interview with CNBC, the CEO of Bitfury, Brian Brooks, shared his thoughts on how the inflation fight affects BTC short-term traders. He pointed mainly at the interest rate hikes since the fight started. The Feds started the aggressive approach to digital assets in early 2022. The interest rate hike affected borrowing as the funding mechanism became costlier. The rate increase started gradually from 0.25% in March...