The Bitcoin (BTC) price action has kept traders and investors on the edge of their seats as macro factors keep pulling prices down.
The Federal Reserve continued its aggressive monetary policymaking, which, coupled with additional crypto market events, affected Bitcoin price action. As for the price of Bitcoin and other risky assets, however, they did what they usually do following FOMC meetings — swing erratically.
Bitcoin pumps then dump
On Nov. 2, after the FOMC meeting, the Fed’s announcement led to a momentary price pump for stocks and cryptocurrencies. In November, the Federal Reserve hiked interest rates by 75 basis points consecutively for the fourth time this year to combat inflation.
