As many industry experts anticipated, the US Federal Reserve left the key interest rates unchanged in its second FOMC meeting for the year.
Although the development was highly expected, with betting platforms suggesting a 99% possibility ahead of the meeting, BTC felt some turbulence.
CryptoPotato reported earlier today that the primary cryptocurrency’s price had reclaimed the $83,000 level ahead of the conclusion of the FOMC meeting after dumping below $81,500 on Tuesday.
However, the asset had aimed at $85,000 during the trading day before it dumped beneath $84,000 and then spiked to $85,000 after the news about the interest rates broke.
It has failed to maintain its run and has lost around a grand since then, currently trying to remain above $84,000.
The Federal Reserve’s decision to keep the rates at the same levels leaves them at 4.25% to 4.5%. This is the third consecutive meeting, which has ended with no changes to the rates, following the two cuts in late 2024.
However, there are some hints that the US central bank will start reducing the interest rates from the next FOMC meeting as well as “slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion.”
