The Fed has just announced a 75 basis point raise to combat continued inflation. This is the second 75 bps raise in as many months. The raise comes as really no surprise, as markets had pretty much priced it in. Some were expecting the possibility of a 100 point raise but that did not come to fruition.

Bitcoin is continuing its daily rally, now up over 7% in the past twenty-four hours - surging past the 22k level. The recent short-term uptrend remains intact for the month of July.

It seems that the reaction is positive to the Fed's official announcement. More raises are expected in the coming months, as inflation is combated - even if it means putting a dent in economic growth. What it means for Bitcoin is yet to be seen. Keep an eye on the chart!