Crypto Price Today: Bitcoin rises above $105,300 amid Fed's rate pause; Altcoins jump up to 10%
Bitcoin, the world’s largest cryptocurrency by market cap, surged above $105,000 on Thursday after the US Federal Reserve kept rates steady and provided limited guidance on further reductions in borrowing costs this year.
At 10:57 am IST, Bitcoin was up 3.1%, trading at $105,336, while Ethereum rose 2%, reaching $3,187.
«There would be no rush to cut rates again until inflation and jobs data made it appropriate,» said Fed Chair Jerome Powell.
Powell also noted that Fed officials are awaiting the impact of Trump’s policies on inflation and economic activity. Markets now expect the Fed to reduce interest rates by only about 50 basis points by the end of the year.
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View Details»«Bitcoin is holding steady above $105,000 after the Fed kept the interest rates unchanged at 4.25%—4.5%. This move signals a wait-and-watch approach from the Feds to gauge the impact of any monetary changes by Trump in the coming weeks. Despite the hawkish remarks, markets viewed this as a bullish sign, as stable interest rates suggest that economic conditions are stable
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