The U.S. central bank's 0.25% rate cut, amidst a weakening economy and political pressure, did little to move Bitcoin’s price, with the largest cryptocurrency holding steady just above $116,000.
The U.S. Federal Reserve cut interest rates by 0.25% amid economic concerns and political pressure, with Bitcoin holding steady at $116,000. The Fed's move follows a revision of U.S. job creation figures and persistent inflation above its target. Analysts noted Bitcoin’s typical positive performance in a low interest rate environment, though market sentiment seemed to have already priced in the decision. Investors now await Federal Reserve Chair Jerome Powell’s comments for further guidance on future rate cuts.