The recent decision by the Federal Reserve to maintain interest rates at 4.50% has significantly affected Bitcoin volatility, with the price nearing $97,000.
Market Reaction to Fed Decision
The Federal Reserve's decision to hold interest rates steady has caused notable fluctuations in Bitcoin's price. This move has triggered significant price movements, indicating heightened interest in the cryptocurrency.
Expert Quotes and Opinions
Key figures like Michael Saylor remain optimistic about Bitcoin's future, highlighting its value as a reserve asset. "Bitcoin as a corporate treasure reserve represents the ultimate way to preserve shareholder value and insulate against fiat debasement," — Michael Saylor, Executive Chairman, MicroStrategy.
Impact on Other Cryptocurrencies
The Federal Reserve's decision also affects large-cap altcoins like Ethereum, which see slight declines. This decision shifts the capital focus back to Bitcoin, as evidenced by increased whale activity.
The Federal Reserve's decision to maintain interest rates, along with Bitcoin's volatility, highlights the significance of macroeconomic factors in the cryptocurrency market. Investors continue to await further guidance from the Fed.
