What is the Latest Situation in the Markets After the FED’s Critical Interest Rate Decision? Here is the Data in Bitcoin and Altcoins

Bullish Sentiment in Crypto Markets After FED Interest Rate Decision

Following the Federal Reserve's announcement of a 50 basis point interest rate cut, the Bitcoin and cryptocurrency markets have witnessed a surge in activity.

At the time of writing, the price of Bitcoin (BTC) has risen by approximately 1%, trading at around $60,482. Among altcoins, a general increase is prevalent. Ethereum (ETH) has gained 1.61%, Binance Coin (BNB) 1.36%, Solana (SOL) 2.40%, Ripple (XRP) 1.84%, and Dogecoin (DOGE) 1.69%.

Liquidation Data Indicates Market Volatility

Despite the positive price movements, liquidation data shows increased volatility. Over the past hour, approximately $17 million worth of liquidations have occurred in the cryptocurrency market, with $13 million targeting short positions. Bitcoin accounted for the largest liquidation of $8.50 million, followed by Ethereum with $3.13 million.

Spot Gold Breaks Record

Concurrently, spot gold has reached a record high of $2,591.19 per ounce following the Fed's decision. A majority of economists had predicted a smaller, 25 basis point interest rate cut, which ultimately proved incorrect.

Disclaimer: This information is not intended as investment advice.