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Bitcoin still pricing close $28k to end the week

Yahoo Finance Live discusses a drop in the price of Bitcoin after the Federal Reserve raised interest rates by 25 basis points.

Video transcript

SEANA SMITH: Well, speaking of some of the volatility this week, it wasn't only for the banks, but also for Bitcoin, or was it, when you take a look at where we ended the week. But the Fed's latest 25 basis point rate hike sending the price of Bitcoin down from nearly 29,000 to below 27,000.

Now the SEC issuing a Wells notice against Coinbase, saying that it plans to take on what is called, quote, "enforcement action," and Binance suffering a two-hour outage earlier today due to a software glitch. But the price of Bitcoin remaining relatively unchanged, if you take a look at where we started the week to where we ended the week so close, just below 28,000, right around 27,500. But certainly, you can see in the chart lots of volatility, but ending the week not too far from where we started on Monday.