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Bitcoin Loses Momentum Despite Fed Rate Cut
The BTC/USD pair continued its downtrend even after the Federal Reserve slashed interest for the second consecutive meeting. It dropped to a low of 108,945, down from this week's high of 116,580. Bitcoin price dropped despite some major developments. The first major one was that the Federal Reserve completed its two-day meeting and decided to slash interest rates by 0.25%. Officials also decided to end the quantitative tightening process in December. Bitcoin dropped after the latest Fed decision as investors sold the news because it was in line with expectations. Also, Jerome Powell hinted that the bank may not cut ... (full story)
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