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Bitcoin Slips to $101K, Altcoins Spiraling on Federal Reserve's Hawkish Tone...!!! 😡
The Federal Reserve has cut its benchmark fed funds rate by 25 basis points to the 4.25%-4.50% range.
The "dot-plot" projects the Fed lowering rates to 3.9% next year, signaling fewer cuts than in its September projection. The Fed's PCE inflation expectation for 2025 also rose to 2.5%.
Fed Chair Jerome Powell said that the projected slower path of further rate cuts reflects hotter inflation readings in previous months and higher inflation expectations.
Bitcoin slipped to $101,000, down nearly 5%, while altcoin majors XRP, Cardano's ADA, Litecoin's LTC were around 10% lower over the past 24 hours.
Bitcoin Slips to $101K, Altcoins Spiraling on Federal Reserve's Hawkish Tone...!!! 😡
The Federal Reserve has cut its benchmark fed funds rate by 25 basis points to the 4.25%-4.50% range.
The "dot-plot" projects the Fed lowering rates to 3.9% next year, signaling fewer cuts than in its September projection. The Fed's PCE inflation expectation for 2025 also rose to 2.5%.
Fed Chair Jerome Powell said that the projected slower path of further rate cuts reflects hotter inflation readings in previous months and higher inflation expectations.
Bitcoin slipped to $101,000, down nearly 5%, while altcoin majors XRP, Cardano's ADA, Litecoin's LTC were around 10% lower over the past 24 hours.