There is activity in the Bitcoin and cryptocurrency markets after the FED announced a 50 basis point interest rate cut, which is not surprising.
BTC price increased by approximately 1% after the decision and is traded at around $60,482 at the time of writing. On the altcoin side, the general increase is dominant. Ethereum increased by 1.61% in the last hour, BNB by 1.36%, Solana by 2.40%, XRP by 1.84%, and Dogecoin by 1.69%.
Chart showing BTC price action after the decision.
On the other hand, when liquidation data is examined, with the increase in volatility, there was a liquidation of approximately $ 17 million in the general cryptocurrency market in the last hour, $ 13 million of which were in short positions. The largest liquidation occurred in Bitcoin with $ 8.50 million, while Ethereum came in second with $ 3.13 million.
However, spot gold reached a record high of $2,591.19 per ounce following the interest rate decision of the US Federal Reserve.
A total of 105 out of 114 economists predicted a 25 basis point rate cut and were wrong.
*This is not investment advice.
