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Crypto Market Conditions After The Fed Holds Interest Rates

The Federal Reserve (The Fed), the US central bank, has just held interest rates until an undetermined time. This has caused a reaction from the struggling crypto market.

In addition, a report from the US Bureau of Labor Statistics or Ministry of Manpower (Kemnaker) shows data on an increase of 256 thousand jobs during December 2024.

Meanwhile, Bitcoin (BTC) as the largest crypto asset in the world has decreased by almost 16% since December 17, 2024, especially after the Fed indicated to lower interest rates in the range of 4.25% and 4.5%.

This incident caused Bitcoin to touch a price range of US$92 thousand to US$94 thousand. Because Bitcoin has decreased, this has also had an impact on other crypto assets, one of which is Ethereum (ETH), which is currently at a price of US$3.2 thousand from US$4.1 thousand in December.