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The U.S. Federal Reserve has decided to keep the benchmark federal rate at 5.25% to 5.50%. This stance essentially indicated that there would be very minimal rate decreases going forward.
How would this impact Bitcoin and the cryptocurrency prices in the near term? Bitfinex analysis weighs in., Bitfinex analysts suggest that if the Fed opts to maintain the current rates, Bitcoin could see short-term fluctuations as the market reacts to the development. On the flip side, the overall trajectory may stay positive, particularly if the broader economic conditions continue to strengthen.
Bitfinex analysts also added that the world’s largest digital asset might stabilize near current levels or see modest increases, buoyed by investor optimism about future rate cuts that are expected late in the year.“Central banks around the world have already started to cut rates, which suggests a broader trend towards monetary easing. It seems clear that the Bank of England and the Federal Reserve will follow suit in the coming months.
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