Crypto Price Today: Bitcoin, Avalanche, Cardano and BNB fall up to 5% amid mixed trade ahead of Wednesday Fed outcome
Bitcoin (BTC) was trading lackluster at $$58,638.79 on Tuesday, down by 0.5% ahead of the Federal Reserve’s FOMC meeting outcome on Wednesday. Major altcoins were trading mixed as cryptocurrencies including Ethereum (ETH), Tether, Solana, XRP and Tron gained by up to 1% around 1:15 pm while Avalanche and Shiba Inu, Cardano and BNB fell by up to 5%.
«In the last 24 hours, Bitcoin has dipped slightly as traders await the Federal Reserve's anticipated interest rate cut. Expectations are high for a potential rate cut with a 59% chance of a 50 basis point reduction, » Shivam Thakral, CEO of BuyUcoin said.
Historically, lower interest rates have been favorable for cryptocurrencies, suggesting a promising outlook for Bitcoin and Ethereum.
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View Details»Source: CoinMarketCap
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