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‘Bullish rate hike’ — Why crypto spiked today in the face of bad news

The Fed’s attempts to reel inflation in by increasing interest rates are usually associated with a pullback of investment activity across markets.

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bitcoin
Bitcoin (BTC) $ 17,070.57
ethereum
Ethereum (ETH) $ 1,266.55
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 0.389522
dogecoin
Dogecoin (DOGE) $ 0.103097
polkadot
Polkadot (DOT) $ 5.51
binance-usd
Binance USD (BUSD) $ 1.00
uniswap
Uniswap (UNI) $ 6.21
litecoin
Litecoin (LTC) $ 81.03
bitcoin-cash
Bitcoin Cash (BCH) $ 110.97
solana
Solana (SOL) $ 14.03
chainlink
Chainlink (LINK) $ 7.31
stellar
Stellar (XLM) $ 0.087255
shiba-inu
Shiba Inu (SHIB) $ 0.000009