Bitcoin trades around $18,000, US dollar sinks as all eyes are on the Fed


Bitcoin soared ahead of the Federal Reserve's last interest rate decision of the year while the U.S. dollar has erased much of its 2022 gains. 


Ether continues to trade above $1,300, having jumped above the level following Tuesday's inflation figures. Altcoins were less buoyant. Ripple's XRP was up just 0.6% in the past day, while Cardano's ADA rose just 0.2%


The Fed is expected to opt for a 50-basis points rate hike today, bringing the overall interest rate to 4.25-4.5%, said David Stritch, an analyst at Caxton. "This would bring the interest rate to its highest level since 2008 — not good news for the stumbling U.S. housing sector, but hope may be on the horizon," he added.


Yesterday's inflation numbers gave hope for a quick fall in the inflation rate, Stritch added, before saying that this will allow "the Fed to take its foot off the windpipe of the U.S. economy in the second or even first half of 2023."

Beyond the interest rate decision, analysts and investors will look to the Fed's dot plot for clues as to where the committee sees rates going next year. 


The U.S. dollar tumbled following the inflation news and the Fed slowing the rate of increases today could send it lower. The U.S. Dollar Index fell to its lowest point since June yesterday, reaching 103.58. Bitcoin typically trades higher when the dollar is weaker. 


Crypto stocks


U.S. stock indices traded higher today, with the S&P 500 and Nasdaq 100 each gaining 0.6%.

Coinbase gained 4.3% to trade above $40. COIN shares reached an all-time low on Tuesday amid ongoing concern over the fallout of FTX and the firm's weakening revenue.

Silvergate shares recovered some of the past week's losses. Shares in the crypto bank were up almost 2%, trading above $19.

Block shares were trading at $72.3, up 1.8$, and MicroStrategy jumped almost 3% to $207.


Source : [Bitcoin trades around $18,000, US dollar sinks as all eyes are on the Fed]( by Adam Morgan McCarthy - December 14, 2022 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.