Bitcoin's price has soared back to $98,000 following the Federal Reserve's decision to maintain interest rates despite pressure from President Donald Trump for cuts. The Fed announced it would keep rates in the 4.25% to 4.50% range due to concerns over rising unemployment and inflation risks. Fed Chair Jerome Powell noted that while inflation has significantly decreased, it remains above the 2% target. The economic climate, worsened by Trump's trade policies, has led to declining sentiment in households and businesses. Bitcoin briefly dropped below $96,000 but quickly rebound to $98,000 hours later on May 7. The cryptocurrency's momentum is gaining, with the Crypto Fear & Greed Index indicating 'Greed' and notable inflows into spot Bitcoin ETFs. However, some analysts caution that if the Fed continues to hold off on rate cuts, it could negatively impact broader markets and pull Bitcoin prices down toward $70,000. The situation is closely monitored as economic uncertainties persist.

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