Hi HODLers, Hiveans and Lions,
As the FED announced a somewhat anticipated 50bps rate cut, Crypco markets have reacted positively. And in the crypto markets, Altcoins benefited the most!
- Cryptocurrencies excluding ether and bitcoin have risen 5.7% since the decision was announced while bitcoin is up 4.4%.
Let's be real, this is something quite normal as smaller caps and less liquids markets tend to fair better in these scenarii.
“Altcoins are higher beta than bitcoin and ether, so think of them as a leveraged play on the broader crypto market similar to tech stocks outperforming the S&P 500 (SPX) in time of green shoots,
What about #bitcoin?
$BTC is solidly positionned north of $63k and will look to break the $65k resistance before trying to retest previous ATH!
As usual in the crypto world: Exciting times ahead!
Stay safe out there,