On May 7, the U.S. Federal Reserve (Fed) maintained the key rate at 4.25–4.5%, which matched market expectations. In its press release, the Fed noted the continuing growth of economic activity, low unemployment levels, and stable labor market conditions, while inflation remains somewhat elevated. Experts at K33 suggested that the Fed's decision could trigger volatility. Following the announcement, the price of Bitcoin dropped from $97,000 to $96,350, and at the time of writing, it was trading around $96,240. Most of the top 10 assets also showed a decline. The total market capitalization of cryptocurrencies slightly decreased. Fed Chair Jerome Powell stated his commitment to supporting maximum employment and achieving 2% inflation, noting the uncertainty regarding the impact of tariff increases and the need for patience.
