Cryptocurrency Price on March 21: Bitcoin jumps 9% to $66,500 after Powell-led FOMC keeps rates unchanged
cryptocurrency, also saw a jump of 13%, rising to $3,468.
Fed Chair Jerome Powell said that recent hot inflation readings had not changed the underlying story of slowly easing price pressures and reiterated the central bank's earlier forecast of soft landing for the world's largest economy.
The comments aided expectations of a rate cut in June, the odds of which rose to 77% from 59% a day ago, according to the CME's FedWatch Tool.
«Bitcoin has regained its bullish bias after favourable comments from the US Fed regarding interest rate cuts this year. BTC has registered a bullish engulfing daily candle with an 8% overnight rally and looks set to aim for $70,000 again this week,» said Vikram Subburaj, CEO of Giottus.
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View Details»On a similar line, CoinDCX Research Team, said, «After the announcement of unchanged Fed interest rates, the entire crypto market bounced back, with altcoins outperforming BTC.»
Other popular altcoins such as Solana (13.8%), BNB (8.3%), XRP (5.3%), Cardano (9.3%), Avalanche (7%), Dogecoin (20.3%), Shiba Inu
