After the United States carried out a rate cut in September, bitcoin fell into the $116,000 range.
According to CoinMarketCap, a global virtual asset market tracking site, as of 8:20 a.m. on the 19th, bitcoin was transaction at $116,807 per coin. Bitcoin's price rose to $117,000 on the 18th, when the U.S. rate cut occurred, but then immediately turned lower. That contrasts with the three major New York stock indexes, which closed at record highs just a day after the rate cut.
Ethereum was transaction at $4,575 around the same time. It was up 2.45% from a week earlier but down 0.45% from 24 hours ago. Major large-cap altcoins have also shown little movement since the U.S. rate cut. XRP was down 0.44% from 24 hours earlier at $3.07, BNB was down 0.39% at $982.06, and Solana was up 0.68% at $246.47.
Typically, when rates are cut, investor sentiment toward risk assets such as bitcoin improves. But as developments diverged from the rate cut the market had expected, investors turned more cautious. The U.S. Federal Reserve signaled two rate cuts in the second half of this year.