Fed Rate Hike Sparks Crypto Price Surge: BTC Climbs Over 3%

Crypto markets enjoyed a bullish bounce following the Federal Reserve's interest rate hike announcement. The news came as a surprise to some, but it didn't seem to deter investors from jumping in.

The market reaction was swift and significant, with Bitcoin (BTC) climbing over 3% in value within minutes of the Fed's decision.

According to CoinDesk, the sudden surge in prices may be attributed to the fact that many traders were expecting a more dovish policy shift from the Fed. Instead, the central bank chose to raise interest rates, which has led to increased demand for cryptocurrencies as investors seek safe-haven assets.