Currently, after the conclusion of the press conference by Fed Chair Jerome Powell, the market shows the following situation:
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📉 Current cryptocurrency prices
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🗣️ Key points from Powell's speech
Rate cut: The Fed lowered the key interest rate by 0.25 percentage points, setting a new range of 4.00%–4.25%.
Forecasts: The Fed anticipates two more rate cuts by the end of the year, which could lower the rate to 3.5%–3.75%.
Economic conditions: Powell noted that the US economy is showing signs of slowing down, particularly due to declining job growth and rising unemployment rates.
Inflation: Inflation remains above the Fed's target level of 2%, but Powell believes that a rate cut will help bring it back to the target level.
Political context: He also noted that the Trump administration's policies, particularly the imposition of tariffs, may impact the economic situation, but the Fed should focus on economic data rather than political factors.
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💹 Market reaction
Following the announcement of the decision and Powell's speech, the cryptocurrency market shows mixed sentiments:
Bitcoin (BTC): The price has decreased to $115,914, which is 0.47% lower than the previous close.
XRP: The price has decreased to $3.04, which is 0.33% lower than the previous close.
Sky (SKY): The price has risen to $0.078874, which is 7.6% higher than the previous close.
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🔮 Forecast
Given the mixed market sentiments, short-term price fluctuations are possible. Traders should be cautious and monitor further economic data and statements from the Fed.
