The U.S. #Federal Reserve has cut the interest rate by 50 basis points, lowering it to 4.75-5% annually. đ
This marks the first rate reduction in 4.5 years, after keeping it at 5.25â5.5% since July 2023. đ§
The market's response has been mixed. #Bitcoinâ initially spiked to $61,000 following the rate cut news, then dropped to $59,500, and is now trading around $60,000.
