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Crypto had a rough go this week after the ecstasy of earlier this month. The total crypto market cap finished the week in the red after a couple of breakout attempts. What major events impacted crypto markets this week?
Broader crypto markets rallied hard on Wednesday – their only green day of the week – after the Federal Reserve announced that it is holding interest rates steady and continues to maintain expectations for 3 rate cuts this year.
This interest rate decision comes amid recent upticks in growth and inflation expectations, and the Fed’s unwillingness to continue to raise rates combined with the confirmation they will begin cutting at some time this year undoubtedly provide comfort for bulls who need no longer worry that higher interest rates will drain liquidity from risk assets.
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