#MarketPullback $BTC

#Bitcoin and #cryptomatket are down on Wednesday following the Federal Open Market Committee (FOMC) announcement to slow down rate cuts in 2025, with the benchmark federal funds rate declining to a lower range of 4.25% to 4.50%.

The decision to cut rates by 25 basis points matched expectations from market participants. However, the crypto market declined following the Fed's decision.

This is because the market reaction may not be tied to the rate cut decision for December but the outlook for 2025.

Fed Chair Jerome Powell indicated the apex bank revised their 2025 outlook and dropped the potential cuts from 4 to 2. This suggests a more hawkish outlook for the new year, sparking a sell-off across the crypto market.