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Maintains Bullish Momentum at $105,000 After Fed Chair Powell’s Comments
The post Maintains Bullish Momentum at $105,000 After Fed Chair Powell’s Comments appeared on BitcoinEthereumNews.com. TLDR Bitcoin recovered 4% after FOMC meeting, reaching $105,031 despite initial selloff to $101,365 Federal Reserve maintained interest rates at 4.25-4.50%, with Powell showing openness to crypto banking Senator Cynthia Lummis announced upcoming public hearings on Strategic Bitcoin Reserve Technical analysis shows key resistance levels at $105.4K and $107.2K before potential $109K retest Trump’s election victory has contributed to over 50% gains in Bitcoin price since November The price of Bitcoin climbed to $105,031 today, marking a 4% recovery following the Federal Reserve’s latest monetary policy announcement. The leading cryptocurrency initially experienced a brief dip to $101,365 before mounting a strong comeback as markets digested the Fed’s decision to maintain current interest rates. The Federal Open Market Committee (FOMC) kept the federal funds rate steady within the target range of 4.25% to 4.50%, a move that was largely anticipated by market participants. This decision comes after three consecutive rate cuts since September, which had previously reduced rates by a full percentage point. During the post-meeting press conference, Federal Reserve Chairman Jerome Powell addressed the current state of the economy and monetary policy. Powell noted that while inflation has decreased from its 2022 peak of 9.1% to the current 2.9% annually, the path forward for rate adjustments remains data-dependent. The cryptocurrency market’s positive reaction was further bolstered by Powell’s remarks regarding digital assets. The Fed chair stated that U.S. banks have the freedom to serve crypto customers, provided they maintain appropriate risk management practices. This stance was interpreted as a supportive signal for the broader crypto industry. The most important FOMC of our lives today (until the next FOMC.) Bitcoin is perfectly balanced in the middle of the range which can be seen in very flat relative OI and OB skew. The only level I am interested in buying at the…
The post Maintains Bullish Momentum at $105,000 After Fed Chair Powell’s Comments appeared on BitcoinEthereumNews.com.
TLDR Bitcoin recovered 4% after FOMC meeting, reaching $105,031 despite initial selloff to $101,365 Federal Reserve maintained interest rates at 4.25-4.50%, with Powell showing openness to crypto banking Senator Cynthia Lummis announced upcoming public hearings on Strategic Bitcoin Reserve Technical analysis shows key resistance levels at $105.4K and $107.2K before potential $109K retest Trump’s election victory has contributed to over 50% gains in Bitcoin price since November The price of Bitcoin climbed to $105,031 today, marking a 4% recovery following the Federal Reserve’s latest monetary policy announcement. The leading cryptocurrency initially experienced a brief dip to $101,365 before mounting a strong comeback as markets digested the Fed’s decision to maintain current interest rates. The Federal Open Market Committee (FOMC) kept the federal funds rate steady within the target range of 4.25% to 4.50%, a move that was largely anticipated by market participants. This decision comes after three consecutive rate cuts since September, which had previously reduced rates by a full percentage point. During the post-meeting press conference, Federal Reserve Chairman Jerome Powell addressed the current state of the economy and monetary policy. Powell noted that while inflation has decreased from its 2022 peak of 9.1% to the current 2.9% annually, the path forward for rate adjustments remains data-dependent. The cryptocurrency market’s positive reaction was further bolstered by Powell’s remarks regarding digital assets. The Fed chair stated that U.S. banks have the freedom to serve crypto customers, provided they maintain appropriate risk management practices. This stance was interpreted as a supportive signal for the broader crypto industry. The most important FOMC of our lives today (until the next FOMC.) Bitcoin is perfectly balanced in the middle of the range which can be seen in very flat relative OI and OB skew. The only level I am interested in buying at the…
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