Although the US Fed reduced the key interest rates by 25 basis points as expected, Jerome Powell made a couple of remarks that impacted the entire crypto market in a highly negative manner.<\/p>\n
The central bank\u2019s Chair warned that the rate cuts for 2025 could be fewer after the three consecutive ones at the end of 2024 and warned<\/a> that the US is \u201cnot allowed to own bitcoin,\u201d despite Donald Trump\u2019s promise to explore how the country could put BTC on its balance sheet.<\/p>\n Riskier assets like cryptocurrencies reacted with immediate and violent price declines. Bitcoin, for one, dumped<\/a> from over $105,000 to under $99,000 for the first time since December 11. The losses extend to nearly ten grand when compared to the Tuesday afternoon peak of over $108,000.<\/p>\n The altcoins, though, were impacted even more severely. Many plummeted by double digits from their respective tops to bottoms, including XRP<\/a>, DOGE, AVAX, PEPE, LTC, and LINK.<\/p>\n Interestingly, Santiment weighed in on the correction and outlined the last four as the potential beneficiaries if the Fed-induced crash was a market overreaction.<\/p>\n \u201cIf this was indeed an overreaction, there is a reasonable chance that the projects with the biggest drops will be the ones worth taking the biggest dip buy chances on,\u201d \u2013 reads the tweet.<\/p>\n After the FOMC interest rate cuts, both crypto and equities traders were left feeling a bit concerned. Not because of the current cuts, but due to Jerome Powell\u2019s projection for 2025 to have half the amount of rate cuts as expected.<\/p>\n Altcoins, in particular, have gotten\u2026 pic.twitter.com\/LVR2oIvCRu<\/a><\/p>\n \u2014 Santiment (@santimentfeed) December 19, 2024<\/a><\/p>\n\n The post These Altcoins Present the Best Buying Opportunities After Wednesday\u2019s Massacre: Santiment<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Although the US Fed reduced the key interest rates by 25 basis points as expected, Jerome Powell made a couple of remarks that impacted the entire crypto market in a highly negative manner. The central bank\u2019s Chair warned that the rate cuts for 2025 could be fewer after the three consecutive ones at the end […]<\/p>\n","protected":false},"author":0,"featured_media":29607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29606"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29606"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29607"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}