Interest rates impact markets: The Federal Reserve’s recent interest rate cut by 25 basis points aims to manage inflation and support markets. However, after the cut, the cryptocurrency market fell by 2.62%, with Bitcoin (BTC) dropping by 2.65%.
Cryptocurrency performance: MAJOR cryptocurrencies such as Ethereum (ETH) fell by 2.30%, XRP declined by 4.69%, and Solana (SOL) dropped 5.15%. Analysts indicate that the rate cut may have minimal effect on Bitcoin’s recovery.