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Hold the line, don't panic
Yesterday there was a storm on the market. The US Fed, as predicted, lowered the key rate by 25 bp to 4.25-4.5%, but the market still went into correction. Was the market growth, which was before that, already built into the price? Who cares, the main thing is that the market unloaded once again - traders left $781 mln on futures over the last 24 hours, and the fear and greed index went up to 75 points
The correction after the announcement of the rate cut continued thanks to the fact that at the conference Mr. Powell said under the cameras that by law the US Fed has no right to own BTC and is not going to change this law
But let's be honest: if the new US President and his close associates, who have full control in the US Congress, want to change the laws - they will do it. Therefore, Powell's words should not be taken as pure truth 1 reply
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