FOMC cuts interest rates, but move was already 'priced in': Analyst
The FOMC cut interest rates by 25 basis points, a move already anticipated by the market, while dissent on future cuts remains.Summary
The Federal Reserve Open Market Committee (FOMC) implemented a 25 basis point interest rate cut, bringing the target Federal Funds rate to 3.75%-4%. Analysts noted this decision was already "fully priced in" by investors. Following the announcement, asset prices, including Bitcoin, saw modest declines, partly due to Federal Reserve Chair Jerome Powell's comments indicating FOMC members are divided on a potential December rate cut. This growing dissent suggests future monetary policy moves are becoming more contentious, which could potentially limit liquidity flowing into risk-on assets like crypto. Despite this, one analyst remains moderately risk-on, forecasting a credible path for Bitcoin to break its all-time high before year-end, citing historical November performance.
(Source：Cointelegraph)