The minutes of the Fed meetings held on January 25-26 have been published. After the publication of its minutes, the value of Bitcoin saw $ 44 thousand.
Inflation emphasis was prominent in the Fed minutes. While the institution stated that the inflation risk is on the upside, it announced that a rapid rate hike could be pursued if inflation remains high.
Emphasis on rising inflation caused Bitcoin and gold to appreciate. Bitcoin managed to rise above the level of 44 thousand dollars with the publication of the minutes.
It was stated in the minutes that a balance sheet contraction would be “probably appropriate”.
Cryptocurrencies were also mentioned in the minutes. It was emphasized that the rapid growth of crypto assets and DeFi platforms are a threat to financial stability.
Bitcoin is trading at $44,270 at the time of writing, according to data from the Binance exchange.
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