Bitcoin (BTC) On March 20, rumors were rumored that the U.S. government was preparing for a “major update” for its crypto policy, which led to a two-week climax.
BTC/USD 4-hour chart. Source: Cointelegraph/TradingView
Fed’s Powell injects relief into stocks, cryptocurrency
From Cointelegraph Markets Pro and TradingView Shows BTC/USD hit nearly $87,500 on Bitstamp.
Bitcoin is currently merged to $86,000 at $86,000, benefiting from a pretty cool Fed meeting where officials choose to keep interest rates at current levels.
Policymakers confirmed that they envision two cuts by the end of 2025, with Fed Chairman Jerome Powell calling inflation a “big relief.”
He is Opening speech Before a press conference that follows a rate decision.
A “waiting” approach is enough to mitigate the risky assets that are struggling with Bitcoin joining U.S. stocks, soaring and sorting out a day. At the March 20 meeting, the S&P 500 index eventually increased by 1%, adding $500 billion in market cap.
Reaction, Arthur Hayes, former CEO of crypto exchange Bitmex, Suggest the Fed sends a key signal For traders to increase risk.
“Jaypow has been delivered, QT is basically above April 1. The next thing we’re going to bully for Realz is SLR waiver or restart QE,” he Write In the feature X-pillar, it refers to the officer who goes from quantitative tightening to quantitative looseness.
“The bottom is $77,000, but Stonks Prob has more pain to turn Jay into the Trump team completely in order to stay agile and cash out.”
S&P 500 1 day chart. Source: Cointelegraph/TradingView
Bitcoin Trader Eyes US Cryptocurrency Announcement
Nonetheless, Bitcoin traders are more concerned about potential changes in the U.S. cryptocurrency stance, as Whispers’ recommendation announcement will be released on March 21.
Related: Bitcoin Futures ‘deleveraging’ soaked $10B open interest for 2 weeks
“This will be the first major update since he established the national crypto-reserve reserves on March 6.” Summarize In X posts about this topic.
“Rumored state President Trump may make a major change to his strategy.”
When Trump signed executive order to create strategic Bitcoin reserves earlier this month Stay cool With it emerging, the plan does not necessarily involve buying BTC in the United States.
However, the latest daily close Key resistance trend linethe reasons for optimism came back soon.
“Bitcoin only needs an additional +8% increase to position itself in the above range and end this downside bias,” Rekt Capital, a popular trader and analyst Report.
“Is that a lot considering BTC growth of nearly 13% since last week’s lows?”
BTC/USD 1 week chart. Source: Rekt Capital/X
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.
