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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Crypto price today: Bitcoin jumps above $85,600 after Fed optimism; XRP, Solana surge over 6%
The Fed left interest rates unchanged on Wednesday, as widely expected, while maintaining its projection for two quarter-percentage-point cuts by year-end. Policymakers, however, raised their inflation forecast and lowered economic growth expectations, citing risks from U.S. President Donald Trump's tariff policies.
Still, markets reacted positively to the Fed’s «dot plot» of policy rate expectations and Chair Jerome Powell’s remarks that tariff-driven inflation will be “transitory” and largely confined to this year. As a result, stocks and cryptocurrencies climbed, while U.S. Treasury yields and the dollar weakened.
As of 10:36 am IST, Bitcoin was up 3.25% at $85,659, while Ethereum gained nearly 4.5% to $2,020. The global crypto market cap increased 3.4% to $2.81 trillion in the past 24 hours.
«The crypto market got a huge boost as the Fed kept rates unchanged, signaling two cuts this year. The pause in quantitative tightening further strengthens market sentiment. Bitcoin, currently near $86,000, could aim for $90,000 if momentum holds,» said Edul Patel, Co-founder and CEO of Mudrex.
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Shivam Thakral, CEO of BuyUcoin, added, «Bitcoin is surging toward $86,000 after the Fed’s decision aligned with market expectations. It hit an intraday high of approximately $85,950 in the last 24 hours, reflecting strong optimism.»
Among altcoins, XRP rose 7.5%, Solana gained 5.7%, Cardano was up 2.7%, and Dogecoin added 3.8%. Chainlink, Toncoin, Hedera, and Stellar rose between 2% and 5%.
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The same topic in other media
Crypto price today: Bitcoin falls below $84k as geopolitical tensions rise economictimes.indiatimes.com / 1 year ago
U.S. dollar stands tall after Fed signals no rush to cut rates economictimes.indiatimes.com / 1 year ago
Tariffs are 'simply inflationary,' economist says: Here's how they fuel higher prices cnbc.com / 1 year ago
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