Bitcoin Wobbles and Settles Lower After Fed Rate Hike

Bitcoin was volatile before settling lower after the Federal Reserve raised interest rates, according to Bitcoin Magazine. The cryptocurrency has declined over the past week as traders had positioned for a rate increase from the central bank. The market reaction followed expectations that the Fed would deliver the hike, with Bitcoin moving unevenly before finding a steadier level. The report, written by Mathew Di Salvo, highlighted the contrast between the prior positioning in anticipation of the decision and Bitcoin’s performance over the week. No price level was provided in the source material. The move comes as traders assess Bitcoin’s response to the latest change in U.S. monetary policy.