Bitcoin Surges Past $105,000 Amid Fed’s Interest Rate Pause
- Bitcoin (BTC) rose above $105,000 after the Federal Reserve paused interest rate cuts.
- The Fed maintained its benchmark interest rate between 4.25% and 4.50%.
- Since November, Bitcoin has gained over 50%, partly due to anticipated crypto-friendly policies.
- Fed Chair Jerome Powell cited economic strength and inflation at 2.9% as reasons for holding rates steady.
- The Nasdaq fell by 1.1%, while the S&P 500 declined by 0.9% following the announcement.
Bitcoin’s price increased to over $105,000 after the Federal Reserve decided to keep interest rates unchanged within a range of 4.25% to 4.50%, citing ongoing economic strength and inflation concerns at an annual rate of 2.9%.
Source (2.6)https://decrypt.co/303515/bitcoin-jumps-to-105000-as-fed-fears-fade?rand=52368
