Bitcoin reacted with an increase of more than 8% to the decision of the US Federal Reserve System to raise the key interest rate by 0.75%. At the same time, the regulator did not rule out that the pace of rate increases may slow down. Before the announcement of the results of the Federal Reserve meeting, the BTC/USD pair was trading near $21,600, after the announcement of the decision on the bitcoin rate, it sharply jumped in price to $23,415. Analysts identify two reasons for such a sharp strengthening of the cryptocurrency. First, the market largely appreciated the announcement made by the Fed, and investors «bought the news after they sold the rumor.» Secondly, the comments of Fed Chairman Jerome Powell that the regulator plans to continue demonstrating the firmness of its monetary policy to curb inflation, but at the same time may slow down the recent rate hike, gave a «bullish» impulse to bitcoin. In addition, Powell also stressed that the US economy has not yet fallen into recession, and pointed to the strength of the labor market, which has created 2.7 million new jobs this year. In the short term, the $23700-$24000 zone will be the next resistance for bitcoin before the peak reached last week ($24300). On the other hand, the $22,800-$23,000 area is the first support to be considered.
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