Bitcoin price surges after Federal Reserve meeting with no interest rate change. Charts suggest sustainability concerns. Expert views on the market outlook.
Bitcoin (BTC) price surged following the Federal Open Market Committee’s decision to keep the interest rate unchanged at 4.25 to 4.5 percent range. Despite acknowledgment of remaining high inflation levels, the central bank opted for a patient approach, maintaining the interest rate. After this decision, Bitcoin initially dropped along with stock indices S&P 500, Dow Jones, and QQQ, but then changed course and reached a daily high of $105,500. However, charts indicate this move may not be sustainable. According to Velo.data, this price growth is mainly due to activity in the futures market, where Bitcoin funding rate increased, resulting in the liquidation of short positions.
