Fed cuts interest rates by 50 basis points! 💸

- ​​The US Federal Reserve has cut interest rates by 50 basis points for the first time in four years, bringing them to a range of 4.75%-5%.

- Bitcoin (BTC) responded immediately to the decision, rising 1.2% to $61,000, before giving back its gains.

- The Nasdaq rose 0.8%, the S&P 500 rose 0.6%, and gold was steady at $2,600.

- Fed members expect interest rates to drop to 4.4% by the end of the year.

- Volatility expected in the crypto market; Wintermute predicts a 2%-3% swing in BTC.

Share your thoughts in the comments! 💬