- Federal Reserve maintains rates, triggering Bitcoin price action.
- Bitcoin approaches new highs near $100,000.
- Reduced supply pressure supports bullish sentiment on Bitcoin.
Bitcoin surged after the Federal Reserve’s decision during its recent meeting to maintain interest rates between 4.25% and 4.50%. This move is interpreted as a potential breakout signal.
The Federal Reserve’s decision to hold rates signals potential economic stability, impacting Bitcoin’s trajectory. Traders responded positively, optimistic about Bitcoin reaching $100,000 soon.
The Federal Reserve, under Jerome Powell, decided to keep interest rates steady at 4.25%–4.50%. Bitcoin’s Age Consumed metric dropped significantly, pointing to reduced sell pressure. As Bitcoin capitalizes on this situation, it approaches new highs.
Bitcoin responded to the Federal Reserve’s decision by spiking to around $97,000 to $98,000. This upward movement aligns with long-term investor confidence. Powell’s steady rate decision reinforces market sentiments and supports the current rally.
The crypto market experienced volatility following the Federal Open Market Committee (FOMC) decision.
However, long-term holders remain inactive, reducing selling pressure, a key signal for potential upward trends in Bitcoin’s value.
Historically, similar pauses in rate hikes have buoyed risk assets, including Bitcoin. Positive market sentiment and reduced selling pressure suggest a continued rally.
The Age Consumed metric plummeted over 90%, indicating strong confidence from long-term holders.
The current metrics support projections of Bitcoin breaching the $100,000 level in the near term.
