Wait, Your Wallet’s Getting Fatter! Crypto Drama Unfolds! 🚀💰

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So, grab your virtual popcorn, folks! Fed Vice Chair Philip Jefferson, our very own financial wizard, has dropped some juicy tidbits about rate cuts—talk about a party crasher for Bitcoin, Ethereum, and the entire crypto carnival! 🎉

According to CNBC (because let’s face it, who else do we trust with our popcorn supply?), Jefferson was chatting away on Tuesday about how the central bank should tiptoe around interest rate changes like a cat on a hot tin roof. It’s all about being cautious in this wild world of economics, folks! I mean, who wouldn’t want to play musical chairs while the music’s still playing? 🎶

Just a short week ago, the FOMC decided to keep the policy rate stuck at 4.25% to 4.5%, like a stubborn kid refusing to leave the ice-cream parlor after just one scoop. Oh, and let’s not forget their previous antics—slashing the federal funds rate by an entire percentage point three times to bring inflation to heel! 🐶

The Fed’s favorite inflation barometer (because it’s not like they have enough to worry about) showed a decrease. In December, it crept up by 2.6% year-on-year, which is a little bit of a win but still above the Central Bank’s dream of 2%. Jefferson chimed in with a prediction that inflation might keep falling, but, you know, don’t hold your breath—blame it on the economy’s bad mood! 😅

And Now, A Dramatic Pause for Crypto’s Reaction!

The crypto market, ladies and gents, lit up like a Christmas tree on a Friday night—mixed signals everywhere! Some coins were celebrating their Tuesday gains, while others felt like the kid left out on the playground. 😩

This weekend, Bitcoin took a nosedive that would make a rollercoaster jealous, with all the drama of a Shakespearean tragedy. BTC plummeted from a jaw-dropping $104,000 to a mere $91,178, before performing a miraculous comeback. ETH, not one to miss out on the fun, dipped to $2,150 before rising to $2,763, like a phoenix rising from the ashes—or at least a very energetic bird! 🦅

Bitcoin, the star pupil, was chilling at $99,600, down just 1.02% in the last 24 hours. It’s like that one friend who always shows up late to the party but still looking fabulous! Ethereum, Cardano, Tron, Avalanche, Shiba Inu, PEPE, and Algorand were the life of the party, racking up gains like there’s no tomorrow, between 1.75% and 7%. 🎈

According to our resident expert, Ali, Bitcoin found a comfy couch between $96,475 and $99,360—ah, the sweet embrace of support! As long as it doesn’t get up, the bulls are ready for a rampage, especially if they can break through that pesky $102,350-$103,900 barricade! 💪

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2025-02-05 15:42