The Swiss National Bank (SNB) has just made a surprise move by cutting its interest rate by 0.50%, bringing its main interest rate down to 0.5%. This is the largest reduction in nearly a decade, far exceeding the predictions of many economists.
This move can be seen as a positive signal for the cryptocurrency market. Low interest rates often encourage investors to seek higher-yielding investment channels, and cryptocurrencies are one of the attractive options. The interest rate cut could also reduce the strength of the Swiss franc, causing investors to seek alternative assets such as Bitcoin and Ethereum.
Overall, the SNB's decision not only reflects flexibility in monetary policy but also opens up opportunities for the development of the cryptocurrency market. $BTC
