CoinEx Research has unveiled its September 2024 report on the cryptocurrency sector. The report emphasizes the influence of policy changes and technological advancements on the market. The main highlight is the Federal Reserve's decision to cut the interest rate by 50 basis points.
This rate cut injected optimism into financial markets, spurring a strong rally in risk assets, especially cryptocurrencies. Bitcoin, being a prominent digital asset, greatly benefitted from this decision, demonstrating robust growth and signaling increased investor confidence.
The Fed's decision to reduce the rate was aimed at easing recession fears, subsequently translating these concerns into a positive outlook within the market. The market response is indicative of the sensitivity cryptocurrencies have to macroeconomic shifts, underlining their expanding role in global finance.
