Hold onto your hats, crypto fans! Bitcoin's been on a rollercoaster, bouncing up and down by about a grand. Just like a seasoned fortune teller's prediction, the US Federal Reserve decided to keep those interest rates steady during its second big meeting of the year.
Even though everybody kind of saw it coming—with betting platforms practically guaranteeing it—Bitcoin still got a little seasick.
In a twist of fate, Bitcoin had danced its way back to a cool $83,000 before the FOMC meeting wrapped up, after taking a dip below $81,500 earlier. But wait, there's more! It had its sights set on $85,000 during the trading day, only to wobble below $84,000 before shooting back up to $85,000 right after the news hit the fan.
Alas, Bitcoin couldn't quite keep its balance and slipped down about a grand, now trying hard to stay above that $84,000 line.
The Fed's choice to keep rates unchanged means they sit snugly between 4.25% and 4.5%. It's been a hat trick of meetings with no rate changes, following two reductions in late 2024. But hey, there might be whispers of rate cuts on the horizon. The Fed could be gearing up to ease those rates in the next meeting and slow down its securities holdings decline by trimming the monthly redemption cap on Treasury securities from $25 billion to $5 billion. Stay tuned, crypto enthusiasts—this ride isn't over yet!
