LIVE
FED Interest Rate Decision Announced: Here is the First Reaction of Bitcoin and #altcoins
A small decline was observed in Bitcoin after the US Central Bank ( #fedinterest ) released its interest rate decision in the direction of expectations.
The FED announced in the last few minutes that it was releasing its interest rate Decision in the direction of expectations between 5.25% and 5.5%. At the beginning of the year, an interest rate cut was expected for May, but the US data failed to progress in any way, which led to the inability to make an interest rate cut today.
Along with the interest rate decision, there was no major movement in the Bitcoin price. Bitcoin, which was at $ 57,651 before the announcement, made a short move and fell to $ 57,350, but quickly recovered.
In parallel with Bitcoin, there was a small decline in altcoins as well, followed by an upward movement of close to 1%.
Economists think that there will be no interest rate cut in September in the current situation in the US.