🇺🇸 The latest #FOMC decision has resulted in leaving US Interest Rates unchanged, continuing at a 5.25% to 5.50% range as it has stayed since July, 2023. In 2022, unchanged rates would be news worth celebrating. However, many in #crypto were actually hoping for this May 1st decision by the US #Fed to result in interest rate cuts, which would in turn bolster #equity market caps, and #cryptocurrencies by association. For now, though, #JeromePowell has noted that the Fed prefers rates stay where they are until #inflation drops down to 2% again. #Cryptocurrency prices can certainly see some relief bounces in spite of the mildly bad news today, but the correlation between its market caps and traditional markets will benefit when the US finally sees some positive news in this respect. In fact, many #altcoins have actually enjoyed some breakouts immediately after the news, as traders begin to feel more comfortable making speculative #buys again now that this month's decision is behind them. Keep track of the mentions related to the social trends related to FOMC decisions, as well as any other topics you'd like to query on our Social Context link here: https://app.santiment.net/s/m5nugtfY?utm_source=twitter&utm_medium=post&utm_campaign=twitter_fomc_social_reaction_b_050124/&fpr=twitter Enjoy a free trial week to Sanbase PRO here, and see what others in #crypto can't: https://app.santiment.net/pricing?utm_source=twitter&utm_medium=post&utm_campaign=twitter_pricing_fomc_social_reaction_b_050124/&fpr=twitter
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