Fed Signals Slower Rate Cuts, Crypto Market Slumps!
The crypto market today has been facing the heat from the Federal Reserve’s recent move to cut the interest rates by 25 basis points, taking the benchmark rate between 4.25%-4.50%. Further, Fed Chairman Jerome Powell’s cautious outlook about smaller rate cuts expected in 2025, citing inflationary pressures has sent shock waves across financial markets.
The industry’s market cap has declined by 3.29% over the previous day, settling at $3.51 trillion. The trading volume, however, took a surge of 34.78% to $265.97 billion, highlighting heightened market activity. Following the market taking a southward route, the Fear & Greed Index falls from “Extreme Greed” to a “Greed” score of 69.
Bitcoin Price Corrects to $101k
Amidst the…
