The Bank of England reduces prices, raises concerns about the impact of the encryption market

The Bank of England reduced interest rates for the third time since August, amid a continuous shrinkage in the encryption market, as leading cryptocurrencies such as bitcoin witnessed significant losses. The bank announced a reduction of 25 basis points, which reduced the basic rate from 4.75 % to 4.5 %, in line with market expectations. The Bank of England has sparked inflation forecast for 2025, 2026 and 2027. The position of the Monetary Policy Committee has sparked speculation about its potential impact on the encryption market. The bank of the Bank of England contradicts the US Federal Reserve’s decision to maintain interest rates. Given the central bank’s position, investors may be ashamed of risky assets such as cryptocurrencies, which may lead to panic and additional decline in the encryption market.