The Bitcoin price and the altcoin market situation remain in focus after the recent decision of the US Federal Reserve to maintain interest rates.
Bitcoin Price Struggles Around $105,000
At the time of writing, Bitcoin is trading at around $104,800, which is a 0.2% increase from the previous day. Despite a drop to around $103,600, bulls quickly intercepted the move and pushed the price back towards $105,000. This occurred right after the US Federal Reserve announced its decision to keep interest rates unchanged in the range of 4.25% to 4.5%, a move that most traders were expecting.
Stagnation in the Altcoin Market
The altcoin market is also showing stagnation, failing to record any significant movements over the past 24 hours. Most alternative cryptocurrencies are trading around breakeven. However, some exceptions, like Uniswap’s native token – UNI, which increased by over 5%, and OKB, which rose nearly 8%, stand out amidst the general slowdown. Meanwhile, Hyperliquid’s HYPE continues to decline, dropping another 7% and trading below $38.
Fed's Economic Forecast and Trump’s Political Pressure
The US Federal Reserve also announced a few changes in its economic outlook, including raising the inflation forecast to 3% and cutting the 2025 GDP forecast to 1.4%. The projected rates are 3.6% in 2026 and 3.4% in 2027. At the same time, President Donald Trump continues his harsh rhetoric towards Fed Chair Jerome Powell, calling him 'stupid' and insisting that the country is losing billions due to the Fed's refusal to cut rates.
Thus, the Bitcoin price remains under pressure, attempting to hold above $105,000, while altcoins are showing little decisive movement. Changes in the Fed's economic forecast and the political landscape contribute additional uncertainty to the market.
