Bitcoin, crypto market remain in uptrend following 25 bps Fed rate cut
- Fed Chair Jerome Powell stated that the FOMC lowered the Fed funds rate by 25 basis points.
- The rate cut comes after Bitcoin reached a new all-time high price upon Donald Trump’s election victory.
- Ethereum and Solana also retained gains of 7% and 4%, respectively, following the rate cut.
Bitcoin (BTC) and the entire crypto market continued to see gains after the US Federal Reserve (Fed) cut interest rates by 25 basis points (bps) on Thursday.
Bitcoin trades close to $76K after Fed cut interest rate
The Federal Reserve reduced interest rates by 25 basis points on Thursday, a decision aimed at maintaining flexibility as officials navigate a slowing labor market and decreasing inflation rates.
This cut…
