Bitcoin runs toward $86K after Fed maintains course, projecting two rate cuts in 2025 📈
Bitcoin's price action turned bullish on March 19 as markets eagerly awaited insights from the Federal Open Market Committee (FOMC) minutes and a press conference by Federal Reserve Chair Jerome Powell. The Fed confirmed plans to keep interest rates unchanged between 4.25% and 4.5%, where they have been since December 2024.
Despite a downgraded economic growth outlook, the Fed's plans align with market expectations and hint at tapering the quantitative tightening (QT) strategy. Bitcoin reacted positively, reaching an intraday high near $86,000, benefiting from Powell's commitment to two rate cuts in 2025.
This move was mirrored by gains in equities, with the DOW up 400 points and the S&P 500 gaining 77. The market remains optimistic about further Bitcoin price recovery alongside potential Fed policy adjustments.
Source: cointelegraph.com ↗
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