In the first FOMC meeting after the US presidential elections, the nation's central bank cut interest rates by 25 basis points, as expected by experts.
Fed's Interest Rate Cut
Following the US presidential elections, the central bank announced a 25 basis point rate cut, aiming to reduce inflation to 2% in the coming months.
Market Reaction to Fed Decision
Many analysts anticipated such a decision from the Fed, leading the market to price in this event in advance. Consequently, Bitcoin's price remained stable immediately after the announcement.
Additional Bitcoin Price Changes
Nonetheless, Bitcoin hit a new peak of $76,800 but soon dropped to $76,100. The cryptocurrency is up 8% for the week and over 22% for the past month, strengthening its position among global financial assets.
The rate cut and US elections significantly impacted the financial markets, reflecting on Bitcoin's prices. Experts will monitor future movements.
