How Bitcoin Reacted to January’s Highly Anticipated FOMC Meeting

Following another Federal Open Markets Committee (FOMC) meeting on Wednesday, the Federal Reserve agreed to raise its benchmark interest rate by 25%.

Bitcoin did not react with its usual fervor to the news, continuing to trade slightly above $23,000.

  • The rate hike brings the Fed’s benchmark rate between 450 and 475 basis points — its highest level since late 2007. The 25-point raise was in line with market expectations, and milder than December’s 50-point hike.

Originally published at on February 1, 2023.



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