Fed cuts rates 25 bps to 4.0–4.25% as growth slows and job risks rise, crypto market reacts positively

Daily top performer — EigenCloud (EIGEN)

The S&P 500 fell 0.1%, with tech lagging and financials leading after the Fed’s 25 bps rate cut and cautious outlook. Gold slipped 0.8% to $3,660 after the Fed’s 25 bps cut, though expectations of more easing later this year support a bullish outlook. The Coindesk Indices, which tracks the broader crypto market, rose 1.78%, with Bitcoin and Ether up 0.10% and 0.10%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.

Today’s top performer is EIGEN, up 16.8% after EigenCloud partnered with Google Cloud to launch the Agent Payments Protocol for verifiable AI transactions.