Bitcoin (BTC) Price action turned bullish in March. 19 With the market’s rush to release minutes of the Federal Open Market Committee (FOMC) meeting and a press conference by Federal Reserve Chairman Jerome Powell.
BTC/USDT 1 day chart. Source: TradingView
Typically, traders keep an eye on the minutes of FOMC meetings and Powell’s comments to get a direct look at the Fed’s perception of the health of the U.S. economy and their monetary policy and interest rate plans.
Powell confirmed in the press that the Fed intends to keep interest rates between 4.25% and 4.5%, and has been between 4.25% and 4.5% since December 2024.
Although the Fed lowered its perception of economic growth and stressed that tendency to inflation remains an incredible point, the Fed’s statements are largely consistent with the expectations of market participants.
Cryptocurrency and stock traders have also been predicting the Federal Reserve’s currency summary policy (QT), with the minutes of the FOMC meeting confirming that central banks will reduce the “monthly redemption cap for Treasury bills” from $25 billion to $5 billion. ”
Change the FOMC statement (red). Source: FederalReserve.gov
Related: Bitcoin price volatility is rising around FOMC days – will it be different this time?
In response to the Fed’s statement, the price of Bitcoin increased its daily gains, and at the time of writing, it rose to $85,950 intraday highs.
The Dow Jones Index also increased by 400 points, while the S&P 500 increased by 77 points. Powell and Fed policymakers’ verbal commitments to two additional drops in 2025 are also aligned with expectations from cryptocurrency traders Bitcoin price recovery.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
