The latest FOMC meeting wraps up today, and the US Federal Reserve is widely anticipated to lower its main interest rate. But while many traders expected a rally leading up to the meeting, cryptocurrency prices have slightly declined over the past 24 hours.

Bitcoin is down 2.1%, Ethereum is down 4%, and top altcoin projects like BNB, Cardano, and Dogecoin are following suit. This begs the question: will crypto survive the FOMC meeting, or are further dips ahead?

Typically, interest rate cuts are a bullish driver for cryptocurrency prices because they lower borrowing costs, which tends to increase liquidity in risk markets. Additionally, they reduce the attractiveness of risk-off assets like treasuries and bonds, which…