Bitcoins and other significant resources, including Ethereum, XRP, and Dogecoin, quickly fell after Fed Chair Jerome Powell made the expected interest rate cut announcement. On the announcement that the main bank would never cut violently in 2025, it appears that the move pushed investors apart from “risk-on” assets like crypto and U.S. equities.
The largest electric property by market cap is currently trading for$ 104,430 after falling after the Fed press event. In the past 24 hours, the asset has dropped by nearly 5 %, falling sharply after setting a new all-time high price above$ 108, 000 early Tuesday.
Dogecoin is down 9 % as it settles at a price of$ 0.363, which is the lowest mark seen in a month for the top meme coin, while XRP is down 10 % on the day, adding to earlier losses after a Tuesday spike.
On Wednesday, the Fed increased interest charges by 25 basis points. However, Powell claimed that as we consider more policy rate adjustments, the bank could be more prudent. As investors took precaution, companies also decreased on the news.
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