Crypto markets have been pumping since the announcement of a 75 basis point interest rate hike in the United States, with experts explaining that the markets may have been initially bracing for much worse.
On July 27, price of Bitcoin (BTC) surged around 8% to the mid $22,500 mark following the Federal Open Markets Committee (FOMC) decision to raise interest rates yet again. Many other top crypto assets surged in price as well, with Ether (ETH), Polkadot (DOT) and Polygon (MATIC) all seeing notable double-digit gains over the past 24 hours.