The Federal Reserve (Fed) has cut the benchmark interest rate by an additional 0.25 percentage points, bringing the interest rate range down to 4.25% to 4.5%. This is the third interest rate cut of the year, totaling a decrease of 1 percentage point since the beginning of the year.

Summary of the meeting:

- Interest rate: Fed reduces the interest rate to the range of 4.25%–4.5%.

- Forecast for 2025: Fed expects to have two interest rate cuts in 2025, fewer than the four previously forecasted, due to inflation remaining high.

- Inflation: still above Fed's target of 2%, with the personal consumption expenditure (PCE) index expected at 2.4% for 2024 and 2.5% for 2025.

- Labor market: cooling down but not at a concerning level.

Bitcoin fell about 4% to around $100,564, and most Altcoins dropped significantly.

=> The Fed's forecast of fewer interest rate cuts in 2025 may have reduced expectations for loose monetary policy, negatively impacting market sentiment. However, the market always reacts strongly at the time of news and needs a few days to stabilize and redefine the trend.