Bitcoin traded around the $ 105,000 level in European morning hours on Thursday, when the first US FOMC meeting of the year ended with keeping rates stable, bumped mood across stock shares and crypto markets.
Jerome Powell-led FOMC maintained the political rate stable at 4.25-4.50 percent in the first decision of Trump’s Presidency after reducing the rates of three equal meetings in 2024.
“We don’t have to be busy adapting our political attitude,” Powell said at a press conference after the police. Rate break comes because officials are seeking further progress with inflation.
Interest increases can make traditional investments more appealing, potentially reducing demand for Bitcoin. Conversely, lower rates tend to increase Bitcoin by making other investments less attractive. Higher rates can strengthen the dollar and adversely affect Bitcoin’s price, while lower rates could do the opposite.
BTC added nearly 3% over the last 24 hours after the FOMC meeting and turned all losses from a Monday blood bath that saw prices fall as much as 8%-a liquidation slope flushing that was ripe for opportunities to buy diping, As Coindesk noted.
Cardanos Ada, Dogecoin (DODE), XRP (XRP) and Ether (Eth) mirrored BTC’s winnings and increased as much as 3%. Solana’s sun surpassed with an increase of 4%. The widely based Coindesk 20 (CD20) added 2.8%.
Outside of Majors, Litecoin (LTC) rose 14%when the US Securities and Exchange Commission (SEC) officially recognized the 19B-4 archiving from the Canary Capital for a spot Litecoin ETF and marked it as the first of its kind beyond BTC and ETH .
“First all Coin 19B-4 was recognized, rest was asked to withdraw from Genz Sec,” said Bloomberg Intelligence Analyst Eric Balchunas at X. “In the comments from SEC on S-1, and this archiving is by far the longest. Control of all boxes. “
A public comment period has now begun with a 240-day decision deadline for SEC in about 240 days.
