– The Federal Open Market Committee (FOMC) cut US interest rates by 25 basis points (bps), lowering it to 4.5% from 4.75%. – The crypto and equities markets remained unaffected, as investors likely already anticipated the rate cut. – Bitcoin (BTC) has been up 1% over the past 24 hours, with a current price of $76,644.57.
– Ethereum (ETH) has registered a more significant upward movement of 7.4%, reaching $2,888.21. – Solana (SOL) is near $200 after a 4.6% daily growth. – The crypto market cap is up 1.3% in the same period, nearing $2.7 trillion. – Tokens related to real-world assets (RWA) protocols have grown 11% in the past 24 hours, leading the gains.
– The US equities market remained steady following the FOMC announcement, with the S&P 500 rising 0.9% and the Nasdaq index increasing by 1.62%. – Fed Chairman Jerome Powell stated that the economic outlook remains uncertain, but the labor market has eased somewhat, with a slight increase in the unemployment rate.
– Inflation is progressing towards the Fed’s 2% target but remains high. – Future rate decisions will depend on incoming data, economic outlook, and the balance of risks to employment and inflation. – The election result will not affect the rate policy in the near term.
