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Forex

Bitcoin Soars on Dovish Fed and Pro-Crypto Legislation

Guavy AI Editorial Team
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USD
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The price of Bitcoin US Dollar has risen by +1.7% to $77,960 today.

This increase is due in part to a less-hawkish-than-feared Federal Reserve policy update and significant legislative milestones for Bitcoin in Washington.

The Federal Open Market Committee voted unanimously to raise the federal funds rate by 25 basis points to a range of 3.75%, 4.00%, but this was accompanied by a dot plot projection indicating further tightening will be limited.

This news has provided relief for risk assets broadly, with Bitcoin's price surging as a result.

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