Breaking: Crypto Market Pumps After U.S. Fed Slows Down Rate Hike To 25 BPS

The Federal Reserve of the United States just recently announced an increase in the interest rate of 25 basis points. This comes after a series of hikes that were formally reported throughout the year and ranged from 50 to 75 basis points. However, many have already braced for a reduction in the interest rate because Jerome Powell, the Chair of the Federal Reserve, had previously announced a reduction in rate hikes for January of this year. At the time of writing, the announcement has been met with much approval by the cryptocurrency market, with major indexes now trading in the green.