Federal Reserve holds rates steady as Bitcoin stalls below $90K
The Federal Reserve kept interest rates steady at 3.5% to 3.75% while Bitcoin remained rangebound near $90,000.Summary
The US Federal Reserve decided to hold the federal funds rate steady in the target range of 3.5% to 3.75%, citing solid economic growth, stabilizing labor conditions, and somewhat elevated inflation. Bitcoin showed minimal reaction, continuing to trade between $80,000 and $95,000, reflecting investor hesitation amid shifting monetary policy expectations and broader macro uncertainty.
The broader crypto market has been subdued, with capital rotating toward traditional assets like gold, silver, and large-cap stocks, as evidenced by the S&P 500 hitting a new high. The Federal Open Market Committee (FOMC) noted that while job gains are low, the unemployment rate is stabilizing. Policymakers reaffirmed their commitment to achieving maximum employment and 2% inflation, stating they will carefully assess incoming data before making future adjustments.
The decision was supported by most members, though Stephen Miran and Christopher Waller dissented, advocating for a quarter-point rate cut.
(Source：Crypto Briefing)