Bitcoin (BTC<\/a>) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD initially dropping to $20,200 before momentarily rebounding to $20,800.<\/p>\n The Fed confirmed the 0.75% hike, which marks its most intensive hiking schedule in forty years, in a statement<\/a>.<\/p>\n \u201cThe Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3-3\/4 to 4 percent,\u201d it stated. <\/p>\n \u201cThe Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.\u201d<\/p><\/blockquote>\n Analysts had long predicted increased volatility around the rate decision. At the time of writing, Fed Chair Jerome Powell was still to deliver comments on the move, something markets would be keenly eyeing for trajectory cues.<\/p>\n \u201cBeware, volatility will remain high during this event, fake-outs happen before the real move takes place!\u201d Micha\u00ebl van de Poppe, founder of trading firm Eight, told<\/a> Twitter followers.<\/p>\n The Fed\u2019s decision had been nonetheless widely expected, as per CME Group’s FedWatch Tool<\/a>, with Cointelegraph reporting<\/a> on a theory that sticking to the script would still offer crypto a shot at further upside.<\/p>\n Should Powell hint at possible slower increases or a pivot in policy, the situation could however turn dramatically.<\/p>\n Related:\u00a0New Bitcoin Yardstick metric says $20K BTC now \u2018extraordinarily cheap\u2019<\/a><\/em><\/strong><\/p>\n \u201cThe market rallying ~13% off the lows was this expected 75 bps. It\u2019s all about the presser now,\u201d popular account CryptoISO summarized<\/a>. <\/p>\n \u201cWe knew the fed had telegraphed an eventual slowdown\/pause Not a pivot but more of a reassessment as data comes out to see how it is flowing through. 75 bps each time wont work.\u201d<\/p><\/blockquote>\n The statement confirmed that Fed officials had voted unanimously for 0.75%.\u00a0<\/p>\n The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/e26bfaf8-cf4d-4a78-8b53-9927156ffeba.png\")
Fed hints more hikes to com<\/h2>\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/5b00d887-458b-4afa-bfa4-12a01dc984bd.png\")
How long can the hikes go on?<\/h2>\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/13edd203-d990-46bb-898b-a61bdd817644.png\")