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Bitcoin Plunges Below $59K After Fed Official Hints at Rate Pause
Summary: Atlanta Federal Reserve President Raphael Bostic has signaled that the central bank may hold off on further interest rate cuts at its November meeting, potentially dampening expectations for monetary easing. In an interview today, Bostic stated that he was open to either a 25-basis-point rate cut or maintaining the current interest rate level, depending on ...
Atlanta Federal Reserve President Raphael Bostic has signaled that the central bank may hold off on further interest rate cuts at its November meeting, potentially dampening expectations for monetary easing.
In an interview today, Bostic stated that he was open to either a 25-basis-point rate cut or maintaining the current interest rate level, depending on the latest economic data. He emphasized that if the data warranted, he would be supportive of skipping a rate cut altogether.
Following Bostic's remarks, Bitcoin's price took a significant hit. According to Bitpush data, BTC dipped below $59,000 shortly after the news, marking a new low since September 17. This decline reflects the market's reaction to the potential shift in monetary policy.
Tags: Bitcoin,Fed,Raphael Bostic
Link: Bitcoin Plunges Below $59K After Fed Official Hints at Rate Pause [Copy]
