The U.S. Federal Reserve lowered its benchmark rate by 25 basis points, while the CFTC confirmed Bitcoin’s eligibility as collateral in derivatives markets.
The Federal Reserve reduced its benchmark interest rate by 25 basis points to a range of 3.50%-3.75%, raising the probability of a pause in January to 78%. This monetary move coincided with sharp volatility in cryptocurrencies, with NIGHT rising 58.47% and ZEC dropping 11.10%. Additionally, the CFTC (U.S. derivatives regulator) confirmed that Bitcoin can be used as collateral in derivatives markets.