Crypto Market Gains Despite 25 Basis Points Hike by the Fed, Bitcoin (BTC) Above $29,000

The broader cryptocurrency market is up by 1.78% over the last 24 hours despite the Fed announcing a 25 basis points rate hike during the FOMC meeting on Wednesday, May 3. Yesterday’s rate hike by the Fed was on the expected lines and it seems that the crypto investors have decided to look past it.