Bitcoin's price surged back to $98,000 following the U.S. Federal Reserve's decision to maintain interest rates unchanged amidst pressure from former President Donald Trump, who had expressed urgency for rate cuts. On May 7, Fed Chair Jerome Powell noted the risks of rising unemployment and inflation while highlighting that economic sentiment had declined due to concerns over Trump’s trade policy. Despite a brief dip below $96,000, Bitcoin quickly rebounded after the announcement, marking its first return to the $98,000 level since February 21. Market sentiment is optimistic, as indicated by a return to 'Greed' in the Crypto Fear & Greed Index, supported by inflows into spot Bitcoin exchange-traded funds (ETFs). Analysts suggest that if the Fed maintains its stance, Bitcoin’s price may stabilize, potentially avoiding a significant downturn.

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