Even with the Fed talking, crypto held its ground.
$18,660 minutes after the Federal Open Market Committee's statement. Its decline mirrored a similar sudden correction in the U.S. stock market, with the benchmark S&P 500 dropping 0.5% minutes after the Fed update.On the other hand, the 10-year U.S. Treasury note yield surged to 3.6% after the Fed's announcement versus 3.56% five minutes before it. Similarly, the yield on the 2-year Treasury note climbed from 3.98% to 4% in the same timeframe.of top foreign currencies, surged to 111.
The central bank officials also predicted that the policy rate would peak at 4.6% in 2023. Thereafter, it would decline to 3.9% in 2024, followed by another drop to 2.9% in 2025.The dollar's rise and Bitcoin's fall after the Fed update reflected investors' and cash-based instruments compared to riskier assets. Meanwhile, the central bank's dot plot hinted that investor sentiment would remain unchanged until the end of 2023.
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