India, July 30 -- Despite three members of the FOMC voting for a federal funds rate hike, crypto markets are trading firmly in the green on an overnight basis. A softer-than-expected core PCE reading, an unexpected decline in the second quarter GDP growth, as well as an overnight decline in global crude oil prices helped tilt crypto market's focus from inflation combat to the tech sector euphoria.
The Federal Reserve, on Wednesday maintained the target range for the federal funds rate at 3.5 to 3.75 percent, as expected. But three members of the FOMC voted for a hike, which added to worries about an imminent rate hike.
However, data for June released by the U.S. Bureau of Economic Analysis on Thursday morning showed the core PCE price ind...