Source: TradingViewGenerally, traders keep a close eye on FOMC minutes, along with Powell’s comments, to obtain direct insights into the Fed’s take on US economic health, along with their plans for monetary policy and interest rates. In the presser, Powell confirmed that the Fed intends to leave interest rates unchanged, in its target range between 4.25% to 4.5%, where they have been since December 2024. Although the Fed downgraded its outlook for economic growth and emphasized that tamping inflation remains a sticking point, the Fed’s statements largely align with market participants' expectations. Crypto and equities traders have also been forecasting the reduction of the Fed’s monetary policy of quantitative tightening (QT), and the FOMC minutes confirmed that the central bank will reduce “the monthly redemption cap on Treasury securities from $25 billion to $5 billion.” Changes to FOMC statement (in red).Source: FederalReserve.govRelated: Bitcoin price volatility ramps up around FOMC days — Will this time be different? In response to Fed statements, Bitcoin price added to its daily gains, rallying to an intraday high at $85,950 at the time of writing. The DOW also added 400 points, while the S&P 500 index added 77.
Bitcoin (BTC) price action turned bullish on March.19 as markets grew anxious for the release of the Federal Open Market Committee (FOMC) minutes and a press conference from Federal Reserve Chair Jerome Powell. BTC/USDT 1-day chart.
Powell and Fed policymakers’ verbal commitment to two additional rate cuts in 2025 also aligns with crypto traders' expectations and could further buoy the current recovery in Bitcoin price.
The story "Bitcoin runs toward $86K after Fed maintains course, projecting two rate cuts in 2025" has 340 words across 14 sentences, which will take approximately 2 - 3 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin runs toward $86K after Fed maintains course, projecting two rate cuts in 2025" was covered 11 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 311 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
