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Fed Decides to Slow Rate Cuts as Bitcoin Plunges
The US Federal Reserve has decided to slow down its pace of interest rate cuts in response to recent economic data indicating the potential for inflation persistence. Meanwhile, Bitcoin (BTC) is currently trading at $94,129, according to CoinGecko data.
As a result of this decision, Bitcoin’s value has taken a hit, causing it to plummet. The cryptocurrency expert and trader, Alex Dovbnya, believes that there is no clear indicator whether or not the rate cut slowdown will have any significant effect on the crypto market.
“We believe all content is accurate as of the date of publication but certain offers mentioned may no longer be available,” says Alex Dovbnya in his report.
Source: u.today
