What’s Next For Crypto? — TradingView News
On Wednesday, the Federal Reserve (Fed) announced a 25-basis-point rate cut from the previous rate of 4.25%, aligning with market expectations. Despite this bullish development being highly anticipated by top experts as the best catalyst for the remainder of the year, Bitcoin (BTC), XRP, and Ethereum (ETH) led the market downturn following the announcement.
Fed Chair Signals Uncertainty Over Further Rate Cuts
The selloff intensified after Fed Chairman Jerome Powell indicated during his press conference that another interest-rate cut in December “is not a foregone conclusion.” This uncertainty has contributed to market volatility, as both cryptocurrencies and stocks have rallied this year in anticipation of lower interest rates.
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