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Powell’s ‘rate cut’ pause puts Bitcoin’s price on hold—Is the rally over?
The much-anticipated Federal Reserve rate decision has finally arrived, and it seems that the market is at a crossroads. The Fed kept rates unchanged at 4.25-4.5%, meeting expectations and cementing the notion that the era of easy monetary policy is behind us. The lack of a rate cut might have sent shockwaves through global markets, but for Bitcoin (BTC), it has put its price on hold.
The $1.4 trillion in unrealized gains that the market has accumulated is now facing a test as macro tailwinds fade away. As the rally appears to be losing steam, investors are left wondering whether we’re witnessing the beginning of the end for this bull run.
It’s undeniable that Bitcoin’s recent price action has been nothing short of remarkable. The cryptocurrency managed to soar above the $100K mark and even ventured into the $120K territory. However, it seems that the latest rate decision has put a dent in the market’s enthusiasm.
Source: ambcrypto.com
