Bitcoin, Ethereum Prices Soar Amid ECB Rate Hike And US GDP Report

On Thursday, the European Central Bank (ECB) raised interest rates by another 75 bps. The ECB expects to raise interest rates further to hit the medium-term inflation target of 2%. Volatility increased in the crypto market as the U.S. Dollar Index (DXY) jumped higher, but subdued later. The largest cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) price soars almost 1% each after the ECB hiked interest rates.