Cryptocurrencies jump after Fed hikes rates
Major cryptocurrencies, including Bitcoin, jumped on Wednesday after the Federal Reserve announced another rate hike.
The US central bank decided to raise the target range for the federal funds rate by 75 basis points to between 2.25% and 2.5% and hinted it intends to continue hiking rates to tackle high inflation.
Bitcoin climbed 4.08% to sell for $22,102.689 at 2:31 pm ET and Ether surged 6.29% to $1,540.288 at the same time.