Fed Cuts Interest Rates: How did $BTC, $DOGE & $XRP React

 Fed Cuts Interest Rates: How did $BTC, $DOGE & $XRP React?






The Federal Open Market Committee cuts its overnight borrowing rate to a range of 4.25% - 4.5% back to ots December 2022 level. 



But how did $BTC, $XRP & $DOGE react to this news?


$BTC is down by -5%


$XRP is down 11%


$DOGE is down 11%


Summary:


These 3 cryptocurrencies shed 5% - 11% but still bounced off on their 20 day moving averages.

$DOGE - 🔻11%
$BTC - 🔻 5%
$XRP -  🔻 11%

Conclusion:


There can short term effects on $BTC, $XRP & $DOGE on economic news and whales moving their assets. Always stick to your trading plan and exit strategies. We plan both our profits and risks when trading. 

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