Although the crypto market had a moderate response this Wednesday to the Fed decision, it currently experiences generalized increases.
Cryptocurrencies operate with a majority of increases at the opening of this Thursday, September 18. Bitcoin (BTC) quote around US $ 117,700 by climbing 1.8% in the last 24 hours, according to Binance. After a previous day without a clear tendency, optimism returned to the crypto market after the rate cuts of the Federal Reserve (Fed) This Wednesday.
Currently, the most important cryptocurrency on the market It quotes at its maximum level since August 18. For its part, Ethereum (eth) increases 3% in that same period of time and is just above U $ S4.600. In the rest of the “Altcoins” The trend is mostly positive, standing out Dogecoin profits (+7.2%), Cardano (+7.1%) and Solana (+8.1%).
Shy start after the Fed Decision
The crypto market lived moments of uncertainty this Wednesday After the decision of the Federal Reserve (Fed) to reduce interest rates, placing them by 4% from 4.25%. As soon as the decision was known, Bitcoin fell from US $ 116,000 to US $114,900 in minutes. However, The cryptocurrency managed to stabilize in the following hours, reaching the US $ 115,000.
The market reaction was surprising, since rates cuts usually boost Bitcoin, increasing market liquidity. The stabilization and slight rebound of BTC reflect a moderate response of the crypto market, which continues to evaluate the medium and long -term implications of the Fed monetary policy.
What is expected forward
Anyway, Optimism remains among experts. Roshan Robert, OKX CEO He explained that “the US $ 7.5,000 million in the monetary markets represent one of the largest capital reserves pending an address. As returns are reduced, that capital will seek new destinations.”
In this regard, he explained that “traditional actions will capture a part, but Digital assets are increasingly recognized as a reliable alternative in institutional portfolios“
For its part, Guilherme Nazar, Director of Regional Markets of Binance in Latin Americahe explained that with the reduction in Fed rates “a mesurated path opens that reduces short -term types, while long -term yields are stabilized, which generally favors risk assets without causing an ephemeral rebound“
And he deepened: “In the field of cryptocurrencies, This configuration usually sustains the demand of BTC and ETH and can be extended to the high capitalization altcoins and high quality if the financing and the futures base remain stable. “
Source: Ambito
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