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Crypto wrap: January Fed meet minutes pull Bitcoin back from six-month high

The minutes, released on Wednesday, said that the members believe "ongoing" rate hikes will be necessary

Cryptocurrency
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Photo: Reuters

Raghav Aggarwal New Delhi
The last week was a mixed bag for cryptocurrency investors. Bitcoin touched a six-week high of $25,047 on Tuesday. But soon after the Federal Reserve released the minutes of its January meeting, the prices fell below $24,000.

The minutes said the members believe "ongoing" rate hikes will be necessary.

"Participants noted that inflation data received over the past three months showed a welcome reduction in the monthly pace of price increases but stressed that substantially more evidence of progress across a broader range of prices would be required to be confident that inflation was on a sustained downward path," the

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First Published: Feb 24 2023 | 3:58 PM IST

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