Altcoin Market Shows Potential Rally Following US Fed’s Interest Rate Decision
Bitcoin's price increased by 3.10% to $105,000 following the US Federal Reserve's decision to maintain interest rates at 4.25% to 4.5%. Other major altcoins like Ethereum, Solana, Cardano, and Chainlink rose between 3-7%.
Key Developments
- The Federal Open Market Committee opted for no rate changes after three consecutive cuts.
- This decision reflects stable economic growth and persistent inflation pressures.
- Analysts suggest Bitcoin dominance may rise above 60%, impacting altcoin performance.
- Despite the Fed's stance, the crypto market remains strong, although a clear path for altcoins is uncertain.
- Captain Faibik predicts a bullish wave for altcoins starting in February, potentially linked to a Pennant Breakout.
Overall, the market is poised for potential shifts as analysts monitor Bitcoin's influence on altcoins moving forward.