The US Federal Reserve has announced a 25 basis point Fed rate cut, the third rate cut this year. This development has further sparked a bullish sentiment in the crypto community, considering the impact it could have on crypto prices.
Federal Reserve Announces 25 Bps Fed Rate Cut
In a press release, the Federal Reserve announced that it had decided to cut interest rates by 25 basis points following the FOMC meeting. This Fed rate cut is in line with market expectations as experts like Bank of America’s Mark Cabana had predicted that the committee would reach this decision.
This interest rate cut is the third this year, following earlier Fed rate cuts in September and November. Like the previous one, this rate cut provides a bullish outlook for the Bitcoin price and the broader crypto market.
Moreover, it comes just weeks before Donald Trump’s inauguration, another event that could spark further rallies in the crypto market, especially if the president-elect implements the Strategic Bitcoin Reserve.
The post Breaking: Federal Reserve Announces 25 Bps Fed Rate Cut appeared first on CoinGape.
