$BTC $ETH $XRP Bitcoin drops 4% as US rate cut expectations recede

BTC

70,375.19

+1.24%

XRP

1.4402

+0.69%

ETH

2,148.64

+1.08%

Cryptocurrency prices turned lower as the Federal Reserve announced a smaller-than-expected rate cut in 2025.

Bitcoin fell 3.95% to $97,167.58 at 12:11 a.m. Mecca time on Friday, after touching $102,753, bringing its market cap below $2 trillion.

While the second-largest cryptocurrency by market cap, Ethereum, fell 7.75% to $3,412.86, Ripple rose 0.6% to $2,269.

This comes after Fed policymakers lowered their expectations for monetary easing in 2025, saying in a quarterly report released yesterday that they see two rate cuts totaling 50 basis points next year, down from their previous estimate of 100 points.

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