"Adjusting the Pace of Rate Cuts Has Limited Impact on the Crypto Market"

On this day, the Federal Reserve (Fed) indicated through its regular Federal Open Market Committee (FOMC) meeting that it would adjust the pace of rate cuts. As a result, the entire cryptocurrency market, including Bitcoin (BTC), came under downward pressure. However, there was an opinion that the delay in rate cuts would have a limited impact on the crypto market.

According to Bloomberg, David Lowant, head of research at FalconX, stated, "The delay in the pace of rate cuts until 2025 was within the expected range. It is currently having a slightly negative impact on cryptocurrency prices," but he also predicted, "While macro factors traditionally influence cryptocurrency price movements, the biggest issue in the current crypto market is the cryptocurrency regulations related to the new administration that will be in place in a few weeks."

Meanwhile, Bitcoin fell below the $100,000 mark for the first time in about six days. Additionally, most of the top market cap cryptocurrencies, including Ethereum (ETH) and Ripple (XRP), are recording a downward trend.