$BTC

The price of Bitcoin (Bitcoin-BTC) is currently experiencing relative stability near $57,500, with a decline of approximately 5% during the day, and an increase of approximately 1.5% - or $1,000 - from its lowest levels recorded during the previous trading session, as traders study the possibility of the Fed reducing interest rates. This year after the recent announcement of US central bank policy.

As expected, the Federal Reserve did not change interest rates, which remain at multi-decade highs between 5.25-5.5%, and announced its intention to slow the pace of balance sheet reduction (reducing the pace at which bond holdings on the balance sheet are reduced), as it will allow... The central bank is now reducing its investment portfolio by only $25 billion per month, while previously it allowed its balance sheet to shrink by $60 billion per month.

This reduction exceeded expectations, which explains the cautious market reaction to the initial policy announcement, as the price of Bitcoin rose briefly near $59,500 in addition to the rise in US stock prices, but this upward movement was quickly reversed and Bitcoin is currently trading near its levels recorded before. Federal Reserve announcement.

Federal Reserve Chairman Jerome Powell pointed to recent inflation data that has been higher than expected so far this year.