Powell’s Rate Cut to Fuel Bitcoin Momentum – Bitcoin Hyper Presale Skyrockets...
The US Federal Reserve cut the key interest rate by 0.25 points, with the change coming into effect at 2 PM ET. U.S. Federal Reserve Chair Jerome Powell gave a press conference on the same day, hinting the cut is a risk management move. He went on to say that ‘[…] a quarter point won’t make a huge difference to the economy,’ but that further cuts were inevitable. Bitcoin reacted with a slight dip to $116.2K, reflecting traders’ caution despite the cut going into effect. Overall, Bitcoin has been trading sideways, still trying to find support above $117K. With investors waiting....
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