Cardano, Avalanche Lead Fed-Driven Crypto Rally, Traders Still Wary of Long-Term Recovery

Cardano, Avalanche Lead Fed-Driven Crypto Rally, Traders Still Wary of Long-Term Recovery


“We can see that Powell ruled out a 75 basis point rate hike and expressed confidence that the U.S. could avoid a recession, a so-called hard landing, as the Fed raises borrowing costs to reduce high inflation,” Lyu explained, adding Wednesday’s bounce in cryptocurrencies showed that despite the macroeconomic pressures, the cryptocurrency market remained “surprisingly strong in relative terms.”

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