Crypto News Today: Fed Rate Cut, Fartcoin, Bitcoin Crash and more

Crypto News Today: Explore What Happened in Crypto Market Now

Federal Reserve's Latest Interest Rate Cut and its Impact on Bitcoin

For the third time this year, the United States Federal Reserve, under Jerome Powell’s leadership, has implemented an interest rate cut. With the latest 25 basis points (bps) interest rate cut, Powell highlighted how less restrictive the Fed’s economic policy is at the moment. The rate cut brings the Fed funds rate to a range of 4.25% to 4.5%. Despite this economic maneuver, Powell commented on the push for a Bitcoin strategic reserve in the US. He claimed the Federal Reserve has no powers to keep such an asset, undermining confidence in the plan.

Fartcoin Briefly Taps $1 Billion Market Cap Despite Altcoin Bloodbath

Solana-based memecoin Fartcoin briefly exceeded a $1 billion market cap amid a downturn in the altcoin market. Fartcoin gained 113% over the past 30 days to briefly surpass a market capitalization of $1 billion on Dec. 18, despite most of the altcoin market suffering a double-digit slump on the day. Fartcoin — a memecoin without any utility — stood out as the broader crypto market faltered after the United States Federal Reserve announced a 25-basis-point rate cut, along with signals that 2025 may see fewer cuts than expected.

BOJ Holds Interest Rates Steady Amidst Inflation Concerns

The Bank of Japan (BOJ) has opted to maintain its interest rates, keeping the short-term policy rate at 0.25%. This decision marks the third consecutive time the BOJ has chosen to hold rates steady, following similar actions in September and October. After the announcement, the Japanese yen fell to 155 against the U.S. dollar, reflecting a move towards Bitcoin as investors look for alternative assets. On December 19th, the BOJ’s nine-member board voted 8-1 to keep rates unchanged. Despite the majority consensus, Naoki Tamura, one of the board members, advocated for a 0.5% rate hike due to concerns over rising inflation. His proposal was ultimately rejected, underscoring the BOJ’s cautious approach.

Bitcoin Restaking Lands on Sui Blockchain : A Game-Changer for DeFi

Bitcoin is making waves on the Sui blockchain! With the recent integration of SatLayer, Bitcoin’s security is now fueling Sui’s ecosystem growth. This partnership combines Bitcoin’s market cap of around $2 trillion with Sui’s speed, paving the way for a more secure and efficient DeFi landscape. With the inclusion of Bitcoin Liquid Staking Tokens (LSTs) and LSTs partners such as Lombard Finance and Lorenzo Protocol, Sui’s ecosystem is poised to enhance liquidity and capital efficiency.

Bitcoin Market Crash : Unpacking the Causes and What Lies Ahead

The US stock market suffered a massive blow, losing over around $1.5 trillion in a single day, with the crypto market following suit. Bitcoin Crashes Below $100K After Fed’s Rate Cut On Wednesday, the US Federal Reserve announced a 25 basis point rate cut, accompanied by guidance on monetary policy for 2025. This move triggered a sharp reaction in the markets, with Bitcoin plummeting below the crucial $100K support level, dragging the broader crypto market down. Bitcoin, which recently hit an all-time high above $108K, has now lost all its weekly gains, reflecting the market's heightened vulnerability to macroeconomic events.