Fed’s Rate Cut Sparks Crypto Rally: Bitcoin and Altcoins Soar!

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The Federal Reserve’s decision to lower interest rates by 50 basis points has fueled a strong rally in the crypto market. Fed Chair Jerome Powell emphasized that the move aims to restore price stability without spiking unemployment, though he avoided committing to future cuts, stating that decisions will depend on the economy’s performance. Following the announcement, Bitcoin surged 4.31% in 24 hours, reaching a three-week high of $62,336. Other major cryptocurrencies like Ethereum, Solana, Cardano, and Shiba Inu also saw gains between 5% and 8%. Smaller tokens like SUI, TAO, and FLOKI recorded even larger increases, up to 24%.