ECB Rate hike verdict is 50bps, Bitcoin stands firm just below $25k

Quick Take

• The ECB raised the deposit facility rate by 50 bps to 3%.
• Before the collapse of SVB and the fallout of Credit Suisse, markets were expecting a 50bps rate hike from the ECB; however, moments before the decision, markets saw a 35% probability of a 50bps hike.

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