The Federal Reserve implemented its first rate cut since March 2020. The move aimed to combat inflation and economic concerns. What Happened: The rate cut was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a bullish reaction in both cryptocurrency and traditional equity markets. However, prices quickly reversed as traders executed buy orders. Santiment noted that this pattern is familiar, having been observed after events like the Ethereum (CRYPTO: ETH) merge and Bitcoin (CRYPTO: BTC) halving. Traders often become euphoric, expecting prices …
