Bitcoin Price Steady at $96,600 Following Federal Reserve Decision

The Federal Reserve has decided to keep interest rates steady at 4.25%-4.50%, citing increased economic uncertainties and rising risks of unemployment and inflation. Following this announcement, Bitcoin’s price is holding at $96,600. Investors are speculating on future rate cuts, with an eye on Fed Chair Jerome Powell’s upcoming remarks for guidance on monetary policy.

Bitcoin’s price is holding steady at $96,600 following a key decision from the U.S. Federal Reserve. The central bank has opted to maintain its benchmark interest rates at 4.25% to 4.50%, marking the third consecutive meeting without easing. In a statement, the Fed noted rising uncertainties in the economic landscape, signalling potential risks for unemployment and inflation.

This move was widely anticipated by the market, especially given the looming implications of U.S. tariffs initiated during the Trump administration. The Fed is balancing its dual mandate, considering how such tariffs might affect both job markets and inflation rates, which remain stubbornly above the target. As Bitcoin fluctuated throughout the day, dipping below $97,000 before the meeting, it ultimately managed to stay in the green.

Investors are now speculating on future rate cuts, with projections suggesting reductions may begin as early as July. Yet, there’s a clear hesitance within the Fed to act, as officials are calling for more information on the financial impacts of tariffs before making any moves.

All eyes will be on Fed Chair Jerome Powell’s press conference, which is set for 2:30 PM ET (18:30 UTC). His comments could provide insights into the Fed’s upcoming approach to monetary policy, especially regarding the potential for shifts in interest rates.

In the backdrop, Bitcoin’s resilience suggests confidence among investors, even amid economic uncertainty. As the Fed navigates through these challenges, the cryptomarket seems to react sensitively to macroeconomic cues, making it a fascinating time for both cryptocurrencies and traditional finance analysts alike.