US Federal Reserve chair Jerome Powell cast doubt on further interest rate cuts this year, yet the altcoin market barely reacted. Despite receiving the worst possible news for 2025, cryptocurrencies like Ether, XRP, and Solana have seen relatively small price drops.
Crypto analyst Matthew Hyland believes that the market may have already priced in Powell’s announcement, which could indicate a “bottom is in” for the crypto market. However, others are divided on the impact of the Fed holding off on quantitative easing, which aims to increase liquidity and make riskier assets more attractive.
Hartmann Capital founder Felix Hartmann pointed to declining crypto funding rates and the retracing of quality altcoins, suggesting that the market may be nearing a bottom. Meanwhile, Messari co-founder Dan McArdle argues that a decent economy and some credit expansion can support a moderately risk-on environment.
Source: https://www.tradingview.com/news/cointelegraph:e01e0aecf094b:0-altcoins-hardly-sold-off-as-fed-casts-doubt-over-future-rate-cuts