🔸Today has been an exciting day for altcoins.
While Bitcoin has remained relatively stable at $120,000, other cryptocurrencies like Ether, Cardano, Solana, and XRP have soared strongly.
The reason? A comment from U.S. Treasury Secretary Scott Bessent suggesting that the Federal Reserve might implement a 50 basis point interest rate cut in September, twice what was expected.
This has injected significant optimism into the market, pushing Ether to surpass $4,600 for the first time in nearly 5 years. Other altcoins like Cardano and Solana rose by about 8%, while XRP increased by 3.5%.
It seems that optimism about a possible more relaxed monetary policy is favoring altcoins and giving them a new bullish momentum.