Will Crypto Survive the FOMC Meeting Today? Best Altcoins to Buy Now
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…
