The Federal Reserve's (The Fed) influence on the decline in crypto market prices this week is quite significant. The Fed's 25 basis point interest rate cut had minimal direct impact on Bitcoin prices, but the bullish momentum continued.
Bitcoin's price hit a new ATH at $108,000 before correcting to $100,000, with whales expected to accumulate assets. Meanwhile, Ethereum and BNB experienced significant price declines, with a dominant bearish trend.
Other factors that influenced the decline in crypto market prices this week include:
*Macroeconomic Conditions*
Continued inflation and strong labor market conditions influenced the Fed's decision.
*Monetary Policy*
The Fed signaled a more cautious approach to interest rate cuts in 2025.
*Geopolitical Developments*
The Russia-Ukraine conflict and other geopolitical tensions affected the global energy market and price volatility.
However, it should be noted that the crypto market is very volatile, and sudden price reversals can occur.
