Криптовалюты поднимаются на фоне третьего снижения ставки ФРС Headline: Cryptocurrencies Rise Following Feds Third Interest Rate Cut

The cryptocurrency market reacted with significant volatility.

On December 10, the U.S. Federal Reserve (Fed) lowered its key interest rate for the third consecutive time by 25 basis points, bringing it to a range of 3.5-3.75%.

«The available data indicates a moderate rise in economic activity. This year, the pace of job growth has slowed, and the unemployment rate increased slightly until September. More recent figures confirm these trends. Inflation has risen since the beginning of the year and remains somewhat elevated,» the press release stated.

The Fed reminded that the target inflation rate is set at 2%. The inflation rate for September was reported at 3%, compared to 2.9% the previous month.

The Federal Reserve Committee will continue to monitor macroeconomic data for future interest rate decisions.

Additionally, officials indicated that they may start purchasing short-term treasury bonds if necessary to maintain their reserves, which have decreased.

Bitcoin responded to the rate cut with heightened volatility. Within 10 minutes of the announcement, the cryptocurrency tested the boundaries of the $91,600-93,300 range.

At the time of writing, Bitcoin is trading at approximately $93,000.

Ethereum exhibited a similar trend, with its price stabilizing around $3,400.

Overall, most cryptocurrencies in the top 10 by market capitalization found themselves in the «green zone» over a short timeframe.

The Cryptocurrency Fear and Greed Index rose to 26.

During a press conference, Fed Chair Jerome Powell noted that the macroeconomic situation has hardly changed, with both inflation and unemployment remaining high.

According to him, the recent government shutdown significantly impacted the U.S. economy. The interest rate is currently in a «neutral range,» leading markets to perceive the situation as a «pause,» he added.

Powell also confirmed substantial treasury bond purchases on behalf of the Fed in the upcoming months, with a gradual reduction in the accumulation pace afterward.

Media reports have increasingly indicated that Powell may soon be replaced. Ahead of the meeting, the Financial Times reported that President Donald Trump will soon conduct the final round of interviews for the Fed Chair position.

The leading candidate is considered to be Kevin Hassett, a White House economic advisor, who will compete against three other contenders.

«We will consider several different candidates, but I have a pretty good idea of who I want in that position,» Trump noted.

It is believed that if Hassett is chosen, the Fed will more aggressively lower rates and focus on quantitative easing.

Notably, ARK Invest has suggested that a return of liquidity to the markets and positive moves from the Fed could aid Bitcoin’s recovery in December.