The Federal Reserve's decision to cut interest rates by 50 basis points has ignited a surge in the cryptocurrency market. This move was aimed at restoring price stability without causing a spike in unemployment.
Fed Chair Jerome Powell emphasized that the decision was based on current economic conditions and avoided committing to further rate cuts in the future. The crypto market responded positively, with both Bitcoin and various altcoins experiencing significant gains.
The decision aligns with the Fed's broader goal to balance economic growth while keeping inflation in check, creating a conducive environment for market rallies.
