Finally, we witnessed the most anticipated day in the history of crypto and stock markets after a long time of four and half years, yesterday. When US Federal Reserve (Fed) announced its decision to cut interest rates, with significant implications for both Bitcoin (BTC) and the broader crypto and stock market. Following the announcement, the markets reacted positively.
The Federal Reserve reduced its interest rates by 50 basis points (bps) or 0.5% for the first time in the last four and half years, marking a pivotal shift since the onset of the COVID-19 pandemic. This lowered down the target range to 4.75% to 5%, from the all time high of 5.25% to 5.5%.
Following the Fed’s announcement, Crypto and US stock markets showed a minimal volatility marked by aggressive price movements later on. The potential inflow of huge capital into the crypto market could bolster BTC's trajectory, offering bullish investors an opportunity to capitalize on favorable conditions in upcoming days.
As of now, at the end of writing this article, BTC is trading around $62,300 and is up by 4.4% in the last 24 hours and has a market capitalization of $1.23 Trillion.