Breaking news: What impact did the Fed 2024 interest rate decision have on the cryptocurrency market? As the altcoin rally continues, here are the coins that rose the most...

The cryptocurrency market, which started the day with an optimistic mood, witnessed strong gains along with BTC and altcoins. In the wake of the latest FOMC decisions, investors have turned to risk-taking, driving cryptocurrency prices higher.

U.S. inflation data, the FOMC decision and other macroeconomic events were cited as reasons for the decline in digital space earlier this week. After that, Tuesday's FOMC meeting provided some recovery in the markets. The US Federal Reserve has announced that it will leave the interest rate unchanged for the third time in a row. This development signals that the Fed will cut interest rates for 2024 and beyond. Immediately after the development, the price of Bitcoin (BTC) increased by 4.5%. Currently, BTC is trading at $42,865 levels, and with BTC, there has been a sharp fluctuation in the cryptocurrency market.

BTC 1-day price chartThe altcoin market has also been bullish, attracting investors. The Santa Claus rally in the altcoin market after the Fed interest rate decision is likely to continue into 2024 with analysts calling for buying dips.

What is rising the most with the altcoin rally?

The altcoin market, which faced some selling pressure earlier this week, continues to rise amid positive Fed comments. At first, the leading altcoin Ethereum price started the day with an increase of 4.86 percent. The ETH, which has started to recoup its loss at the beginning of the week, is trading at $2,277. The altcoin with a high value of $2,285 in the last 24 hours was followed by Solana. SOL is up over 8% in the last 24 hours and is currently trading at $71.33.

Another one of the biggest risers of the day was Avalanche. The AVAX, which started to recoup recent losses with an increase of 7.88 percent, saw an intraday high of $41.28. Its volume and market capitalization increased by more than 8 percent. On the other hand, Cardano (ADA) was the altcoin that rose the most. ADA price increased by more than 13 percent, attracting investors.

Meme Kombat continues steady growth!

Despite the rise in altcoins, the rise among memes was more modest. On the other hand, the Meme Kombat project, which bayoneted its steady growth, became a profitable alternative for the investor. The Meme Kombat project, which is based on 11 of the most popular meme coin characters among cryptocurrencies fighting in the arena, brings together the world of entertainment and finance on a virtual platform, allowing users to earn income in different ways through staking and staking.


The token, which was sold with the MK token, offered a chance to win 112 AYP, creating a lot of excitement among investors. Pre-sales on the Meme Kombat X platform are expected to rise to $2.9 million.** In light of these developments, it has been announced that the price of the rapidly growing Meme Kombat will increase from $0.235 to $0.246 right now**

Visit Meme Kombat

How will the latest developments affect cryptocurrency prices?

In its latest FOMC announcement, the Federal Reserve announced that it has decided to maintain current interest rates. The unexpectedly rapid decline in inflation throughout the year led the authorities to revise their position. Three rate cuts are projected in 2024 as part of an effort to bring inflation in line with the 2% target. In addition to the current situation, committee members outlined plans for at least three rate cuts in 2024, each expected to occur in quarter-point increments. Despite the positive inflation data, theoretical probabilities had a different effect than expected.

That's because these three rate cuts are less than the five rate cuts predicted by many analysts on Wall Street. The limited number of rate cuts projected for 2024, potentially starting in the second half of the year, suggests that officials believe it is necessary to keep borrowing rates high for much of next year to continue curbing spending and inflation.

What do analysts think? Santa Claus rally or buy from a bearish market?

Most analysts expect the crypto market to continue into the new year 2024 with the Santa Claus rally. Cryptocurrency analyst Michael van de Poppe shared his views on the Federal Open Market Committee (FOMC), stating that it has resulted in a dovish stance expressing quantitative easing policies and is a possible indicator of future rate cuts.

Noting that there was a risk-off sentiment for Bitcoin before the FOMC event and then there was a recovery, Van de Poppe emphasized that BTC is currently at a good support level. Van de Poppe also expressed optimism that the bullish trend will continue, setting a target range of $47,000 to $50,000 for Bitcoin during this pre-spot ETF phase.


It is advisable to consider buying dips for both Altcoins and Bitcoin at the current market stage. The analyst added that the market cap is significantly low, and Ethereum has the potential to gain momentum in the coming months. The analyst expressed his thoughts about Ethereum as follows: