Here’s how the crypto market reacted to the Fed’s 0.25% cut
After the Fed cut the interest rate by 0.25%, the crypto market’s liquidation of more than $239 million in mere minutes. Bitcoin dipped briefly below $100k with other major tokens following suit.
On Dec. 19, the Federal Reserve reduced its key interest rate by 25 basis points and warned of cuts in the following years. The Fed hinted that it would probably lower only twice more in the new year ahead.
Fed Chair Jerome Powell explained that since the U.S. government’s stance has become less restrictive, then the agency can afford “be more cautious as we consider further adjustments to our policy rate.”
“We think the economy is in [a] really good place. We think policy is in a really good place,” he…
