India, Sept. 17 -- Cryptocurrencies rallied during the past 24 hours while global markets digested the widely expected quarter percentage rate hike by the Federal Reserve. The retreat in crude oil prices as well as the easing in bond yields bolstered market sentiment. Aggregate market capitalization increased more than a percent while Bitcoin touched a 24-hour high of $77,079.
The Federal Reserve on Wednesday unanimously decided to raise the target range for the federal funds rate by quarter percentage point to 3.75 - 4 percent. The FOMC acknowledged that inflation was elevated and committed itself to delivering price stability.
In the Summary of Economic Projects released simultaneously, the Fed raised the GDP growth projection for 2026 ...