Cryptocurrencies are experiencing a drop, with MYX Finance, Worldcoin, and Pepe among the major contributors to the decline.
The U.S. Federal Reserve made a significant move on September 17, 2025, by lowering its key interest rates by 0.25 percentage points. This decision, which was aimed at stimulating economic growth, seems to have had a notable impact on the crypto market, causing a sharp downturn.
Interestingly, the European Central Bank (ECB) chose to keep its rates unchanged on September 11, 2025. The Fed's decision, however, was not a surprise to market participants, as the Federal Reserve had hinted at more interest rate cuts at its next meeting.
In fact, the Polymarket odds of a rate cut were above 90% before the meeting, indicating a strong expectation among market participants. The Bitcoin price, too, had formed a rising wedge pattern, a bearish indicator that suggests a potential convergence of its two trendlines.
This pattern, combined with the Relative Strength Index (RSI) forming a descending channel, indicating a bearish divergence, points towards a potential Bitcoin crash. Such a crash could potentially impact other altcoins in the market.
Meanwhile, in a separate development, Immutable, a company, has ventured into the mobile gaming industry by launching a new division. The company is targeting the $121 billion mobile gaming market, which could offer an interesting counterpoint to the bearish crypto market trends.
As always, it's essential for investors to stay informed and make informed decisions based on market trends and company announcements.
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