Market Response: Cryptocurrency Prices Fluctuate Following Federal Reserve Rate Decision
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Bitcoin (BTC) Price: Bitcoin (BTC) Retreats to $97K Following Federal Reserve’s Hawkish Stance
The cryptocurrency market has taken a significant downturn, with Bitcoin’s price plummeting below the psychological barrier of $100,000. The sudden decline is attributed to the Federal Reserve’s surprisingly hawkish stance on future rate cuts.
As expected, the Fed delivered a quarter-point interest rate reduction yesterday, but investors were caught off guard by the central bank’s more conservative outlook for 2025. This shift in expectations has sent shockwaves throughout the market, with Bitcoin’s price falling sharply to $97,000.
Source: blockonomi.com
