CandleFocus Bitcoin holds above $60k amid heavy volatility after FOMC confirms 50bp rate cut
2024-09-19
Author: Content Editor
Bitcoin experienced volatility following the Fed's FOMC meeting but remained above the $60,000 threshold. The Fed announced a 50 basis point rate cut after several years of restrictive monetary policy, aligning with other central banks. Bitcoin initially surged above $61,000 but then dipped below $60,000 before recovering. Altcoins saw losses but started recovering after the FOMC meeting. Ethereum traded below $2,300 before attempting a recovery, while BNB and Solana saw modest gains. XRP and Dogecoin saw minor losses, while Toncoin experienced a notable rise. Tron slipped, Cardano inched up, and Avalanche showed a slight decrease. Analysts predict continued volatility as the market digests the longer-term effects of the rate cut.
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