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The Federal Reserve faces on Wednesday one of its thorniest policy decisions in years: whether to lift interest rates again to fight high inflation or hold them steady amid the most intense banking crisis since 2008.

Bitcoin (BTC) returned to near $29,000 on March 23 as bulls ignored news of a fresh United States regulatory crackdown.

Bitcoin’s [BTC] price fell below the $28,000 threshold following the release of the U.S. Federal Open Market Committee (FOMC) decision on interest rates. The FOMC is the country’s Federal Reserve division responsible for evaluating price stability, economic conditions, and setting monetary policy. 

On Wednesday, Federal Reserve Chair Jerome Powell's remarks caused cryptocurrencies to tumble, resulting in a loss of $34.186 billion or 3.09% for the total cryptocurrency market cap. As of writing, the crypto market is attempting to make a recovery with the total market cap rising by 4.46%, bringing it to $1.17 trillion so far today.

Bitcoin's price has been on a rollercoaster ride over the past few weeks, with sudden spikes and dips causing uncertainty for investors. In a surprising turn of events, the cryptocurrency suddenly blasted up to $28,500 - leaving many wondering what was going on. 

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The Federal Reserve on Wednesday stuck with its inflation fight as banks and regulators sort out the Silicon Valley Bank mess that has spread fear throughout the banking sector.

United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch.

Federal Reserve Chair Jerome Powell and his colleagues this week face one of their toughest calls in years: whether to raise interest rates again to fight stubbornly high inflation or take a timeout amid the most intense banking crisis since 2008. 

The Federal Reserve faces on Wednesday one of its thorniest policy decisions in years: whether to lift interest rates again to fight high inflation or hold them steady amid the most intense banking crisis since 2008.

Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it might stop interest rate hikes.

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The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end. Along with its ninth hike since March 2022, the rate-setting Federal Open Market Committee noted that future increases are not assured and will depend largely on incoming data. «The Committee will closely monitor incoming information and assess the implications for monetary policy,» the FOMC's post-meeting statement said. «The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.» That wording is a departure from previous statements which indicated «ongoing increases» would be appropriate to bring down inflation. Stocks rose slightly after the announcement, as investors waited to hear more from Chair Jerome Powell in a press conference at 2:30 p.m. ET.

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Feb. 1.

Cardano (ADA) rallied to its best price level in a month as cryptocurrency investors prepared for the Federal Reserve's looming interest rate decision.

The Federal Reserve will close its two-day meeting Wednesday with a heavy air of uncertainty as the central bank moves forward in its efforts to bring down inflation and stabilize the troubled banking sector.

Federal Reserve Chair Jerome Powell and his colleagues this week face one of their toughest calls in years: whether to raise interest rates again to fight stubbornly high inflation or take a timeout amid the most intense banking crisis since 2008. 

The Federal Reserve faces on Wednesday one of its thorniest policy decisions in years: whether to lift interest rates again to fight high inflation or hold them steady amid the most intense banking crisis since 2008.

Federal Reserve Chair Jerome Powell and his colleagues this week face one of their toughest calls in years: whether to raise interest rates again to fight stubbornly high inflation or take a timeout amid the most intense banking crisis since 2008. 

Massachusetts Senator Elizabeth Warren, one of the more prominent anti-crypto voices in the United States Congress, has called on Jerome Powell to recuse himself amid an internal probe at the Federal Reserve.

Bitcoin (BTC) kept bears sweating near $25,000 on March 15 as encouraging macroeconomic data combined with concerns over banking crisis contagion.