Gold

Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>The Fed&#8217;s 25bps hike was expected, with a hawkish tone: &#8220;Some additional policy firming may be warranted.”</li>
<li>That takes the fed funds rate to 5.00-5.25% — the highest level since the GFC 2008.</li>
<li>After Powell spoke, regional banks continued their spectacular collapse, and PacWest more than halved in extended trading when news came out about strategic options, including a sale.</li>
<li>During this current banking crisis, Bitcoin reclaimed $29,000 — while Gold printed a new all-time high.</li>
</ul>
<figure id="attachment_322652" aria-describedby="caption-attachment-322652" style="width: 1274px" class="wp-caption aligncenter"><img class="wp-image-322652 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/fe.jpg" alt="Fed Funds: (source: ZeroHedge)" width="1274" height="683" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/fe.jpg 1274w, https://cryptoslate.com/wp-content/uploads/2023/05/fe-300x161.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/05/fe-1024x549.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/fe-768x412.jpg 768w" sizes="(max-width: 1274px) 100vw, 1274px" /><figcaption id="caption-attachment-322652" class="wp-caption-text">Fed Funds: (source: ZeroHedge)</figcaption></figure>
<figure id="attachment_322651" aria-describedby="caption-attachment-322651" style="width: 1533px" class="wp-caption aligncenter"><img class="wp-image-322651 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/gd.png" alt="BTC + Gold : (Source: Trading View)" width="1533" height="869" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/gd.png 1533w, https://cryptoslate.com/wp-content/uploads/2023/05/gd-300x170.png 300w, https://cryptoslate.com/wp-content/uploads/2023/05/gd-1024x580.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/gd-768x435.png 768w" sizes="(max-width: 1533px) 100vw, 1533px" /><figcaption id="caption-attachment-322651" class="wp-caption-text">BTC + Gold : (Source: Trading View)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/as-fed-hikes-rates-to-highest-since-2008-bitcoin-and-gold-shine-amid-banking-crisis/">As Fed hikes rates to highest since 2008, Bitcoin and gold shine amid banking crisis</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

As Fed hikes rates to highest since 2008, Bitcoin and gold shine amid banking crisis

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