Price analysis 9/21: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates of 3.8%. The Fed also intimated that it only expects rate cuts to be considered in 2024.

The expectation of higher rates pushed the 2-year Treasury to 4.1%, its highest level since 2007. This could attract several investors who are looking for safety in this uncertain macro environment. Higher rates are also likely to reduce the appeal of risky assets such as stocks and cryptocurrencies and may delay the start of a new uptrend.

Daily cryptocurrency market performance. Source: Coin360BTC/USDT daily chart. Source: TradingViewETH/USDT daily chart. Source: TradingViewBNB/USDT daily chart. Source: TradingViewXRP/USDT daily chart. Source: TradingViewADA/USDT daily chart. Source: TradingViewSOL/USDT daily chart. Source: TradingViewDOGE/USDT daily chart. Source: TradingViewDOT/USDT daily chart. Source: TradingViewMATIC/USDT daily chart. Source: TradingViewSHIB/USDT daily chart. Source: TradingView

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