BTC price rejects at $23K as US dollar declines from fresh 20-year highs

Cointelegraph

Published Jun 16, 2022 10:38AM ET

Updated Jun 16, 2022 12:40PM ET

Bitcoin (BTC) ran out of steam near $23,000 on June 16 after the biggest United States key rate hike in nearly thirty years.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $22,957 on Bitstamp after the Federal Reserve confirmed a 0.75% hike in June — its largest since 1994.

U.S. dollar index (DXY) 1-day candle chart. Source: TradingView
USD/JPY 1-month candle chart. Source: TradingView

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