Bitcoin had risen to $ 39, 000 yesterday evening before the Fed statements. With the Fed taking a more hawkish stance than expected, the Bitcoin and altcoin market retracted their early gains and fell to $36,000.
Fed’s hawkish stance and mixed signals last night caused uncertainty in the crypto asset market, causing assets to retreat again. Stating that they are planning to increase interest rates for March, Powell also made statements about the balance sheet contraction. While Bitcoin rose up to $ 39,000 with the interest rate fixed, the statements made by Fed Chairman Jerome Powell caused a decrease again.
Bitcoin Pulls Back To The Support Zone
After hitting a local top at $39.200, Bitcoin retreated to the support zone around $36,000. Bitcoin, which managed to recover some of its losses as of publication time, is now trading at $ 36,700.
Solana, Terra and Cosmos Among Top Losers
Solana, Terra and Cosmos, three assets that made a big impression with their recent rise, were the ones most affected by the decline in the market after the Fed statements. Solana is down 5%, Terra is down 5% and Cosmos is down 8%. At the time of publication, Solana is trading at $92, Terra $60 and Cosmos at $31.
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