Fed Rate Cut Sends Bitcoin to Record Highs as Markets Transition to New Politics
Crypto News

Fed Rate Cut Sends Bitcoin to Record Highs as Markets Transition to New Politics

1ในการอ่าน
2 weeks ago

Bitcoin (BTC) surged to an all-time high of $76,800, as the latest Federal Reserve interest rate cut of 25 basis points marked a new milestone for both legacy and digital financial markets.

Fed Rate Cut Sends Bitcoin to Record Highs as Markets Transition to New Politics
Bitcoin (BTC) surged to an all-time high of $76,800, as the latest Federal Reserve interest rate cut of 25 basis points marked a new milestone for both legacy and digital financial markets. This sets the target range between 4.5% and 4.75%, furthering a shift in monetary policy that has historically favored risk-on assets.
Fed Chair Jerome Powell allayed any concerns of political influence on monetary policy flat out. He said that the course of rate decisions set by the Fed would not be swayed one way or another by the results of the upcoming election. “The election will have no impact on our policy decisions. The economy is very difficult to forecast looking past the near term. We don’t guess, we don’t speculate, and we don’t assume,” stressed Powell.

Bitcoin briefly reached $76,800, pulling back and managing to stay at $75,800. This rally extends gains from a previous rate cut in September that had already set a bullish trend in the crypto market.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
1 person liked this article