Bitcoin Rises as US Federal Reserve Opts for 25bps Rate Cut

The Federal Reserve announced today a cut in interest rates by 25 basis points, citing unsteady labor market conditions and increased inflation.   For the typical American, these rate cuts mean lower borrowing costs and may be a positive catalyst for the crypto market. However, the decision also carries intensified inflation risks and increased concerns over the Fed’s independence. Fed Cuts Rates for the First Time in 9 Months Bitcoin’s price ticked higher immediately after the US Federal Reserve cut interest rates by 25 basis points on Wednesday source: https://beincrypto.com/bitcoin-rises-as-us-federal-reserve-opts-for-25bps-rate-cut/