Last night the interest rate cut was announced, why did the crypto market plummet???

Last night, Powell's statement caused the crypto market to shake. Even the understanding king has to be replaced.

Last night, the Federal Reserve cut interest rates by 25 basis points as expected in December, revealing a decreased willingness to cut rates next year, creating a disaster. The US stock market fell sharply, and the crypto market followed (A-shares and European and Asian stocks all bled).

Powell is only the Federal Reserve, responsible for currency issuance.

SEC, CFTC

are the regulators of BTC, and these two will take office on January 20 under the understanding king, which is good news for our entire crypto market. Opportunities are created by the drops; there’s no need to panic; you can choose strong coins to buy the dip.

The important reason for this rebound from the bottom by 100 points is that Japan has not chosen to raise interest rates, which is good for the market.

Now many altcoins have dropped, and it is not necessary to cut losses. Wait for the panic sentiment to release and you can buy the dip on relatively stable coins.