The U.S. Federal Reserve (Fed) has decided to keep interest rates at a range of 4.25% to 4.50% on Wednesday, while removing the mention of progress in controlling inflation from the previous statement.

Chairman Jerome Powell stated that future interest rate adjustment decisions will depend on upcoming economic data, the labor market situation, and inflation trends.

Following the Fed's announcement, the price of Bitcoin is up 2.3% and trading around $104,000 at the time of writing. This digital currency had dropped below $100,000 earlier in the week after China announced the launch of DeepSeek AI, an event that caused the global market value to decline by as much as $1 trillion.