Will the good news on FED rate pause to cut sustain the crypto market gains?

By HiRaj | Learn Crypto Insights and Investments | 14 Dec 2023

Dear Readers,

There were wide range on expectations on with FED decision on interest rates and the relation inflation in the US.

As with many news around the corner that FED will not hike the interest rates owing to the improved economic situation as of now.

In general, the high interest rates would probably move the investors away from the riskiest investment instruments like Cryptos. Everyone wanted the interest rates to be slow down.

The news on the pause of the interest hike and a possible interest rate cut 3 times in the next year-2024 signaling a positive news for the Crypto markets. This has also reflected in the Crypto market immediately as well.

Today at the time of writing this article, the world crypto market cap was up by 5.42% and stood at 1.61 Trillion USD.

In the last 24 hours, there was a hike of 4% in the BTC price.

At now, BTC is trading at 42818 USD while ETH is trading at 2273 USD.

If BTC sustains to hold this level, the hike to 45000 USD is on the cards.

The latest Fear and Greed index stand at 72- which shows the overvaluation of the Cryptos.