FOMC Meeting Causes Crypto Downswing, But Don't Buy Into the Overreactions...

🇺🇸 The US Fed has taken the expected action of cutting interest rates by 25bps. However, the cuts came with a hint of cautiousness by Jerome Powell. His hinting of only a 50bps cut through 2025 is only half of what the public had been expecting prior to today's FOMC meeting.

Under these conditions, we are seeing big drops throughout multiple sectors. With Bitcoin and crypto being closely tied to the S&P 500 and other equities markets, prices have retraced on this news.

Although the immediate price reaction has been disappointing, Bitcoin and many altcoins have seen slightly less correlation with stock markets this month. During bull markets, crypto thrives when it has little or no association with equities.

Considering BTC has stayed above $100K (for the time being) and not dipped as aggressively as its normal fluctuations compared to the S&P 500, this can actually be interpreted as a sign of strength once the dust settles over the next 24-48 hours. 👍

Não é aconselhamento financeiro. DYOR.