Crypto Daily – The ($BTC) price is continuing to decline at a rate of knots. Down a combined 8% for Wednesday and Thursday, the price is still falling on Friday, currently at around $95,000. How much further will this plunge go?
Powell successfully talks the market down
Who would have thought that a Fed rate cut of 25 basis points would have resulted in so much carnage across markets. Once Federal Reserve Chairman Jerome Powell took the stage at the end of the FOMC meeting on Wednesday and began to ‘talk the market down’, by saying that there would only likely be two interest rate adjustments in the whole of 2025, the markets started to descend.
What Powell was doing was probably absolutely to be expected. With the Fed in between a rock and a hard place, any more promise of further rate cuts could have fired markets to the upside, with the very possible consequence of also igniting inflation.
On top of this, most of the Fed members are even predicting…
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