Bitcoin Jumps to $105,000 as Fed Fears Fade
Bitcoin surged past $105,000 as investor sentiment improved following the Federal Reserve's decision to hold interest rates steady. This follows three consecutive rate cuts, leaving the benchmark rate between 4.25% and 4.50%. The rising value of Bitcoin also comes amid expectations of a more crypto-friendly environment under President Trump’s administration. Despite initially dipping to $101,800, Bitcoin quickly rebounded as Fed Chair Jerome Powell's comments sparked optimism in the market. Powell acknowledged lingering inflation issues while expressing openness to U.S. banks serving crypto customers, pending risk management. Other cryptocurrencies like Ethereum and Solana also recorded gains. However, some analysts caution that Bitcoin's price rally may encounter resistance, reminding investors to temper expectations as the market adjusts after previous highs. Recent price movements indicate cautious optimism in the crypto market's future.
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