Bitcoin surges to $40,000 as Fed Chair Jerome Powell said the central bank is not actively considering a 75 basis point hike

Bitcoin is pushing towards $40,000, a psychological level, Federal Reserve Chair Jerome Powell spoke on Wednesday after the central bank hiked a benchmark interest rate by half a point and said June would come initiate a multi-million dollar balance sheet contraction. Powell said the Fed is not actively considering a 75 basis point rate hike, but “the committee’s general view is that 50 basis points should be on the table in the next few meetings.” Bitcoin is up 5% to around $39,595 from 24 hours ago to , according to data from CoinPrice.CO Ether, up 6.61%, is up 5.5% to around $2,938.