The U.S. Federal Reserve has cut the interest rate by 50 basis points, lowering it to 4.75-5% annually.
This marks the first rate reduction in 4.5 years, after keeping it at 5.25–5.5% since July 2023.
The market’s response has been mixed. Bitcoin initially spiked to $61,000 following the rate cut news, then dropped to $59,500, and is now trading above $62,000
Forwarded from: Crypto Patel
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