#FOMCMeeting

Following the recent FOMC meeting, the crypto market experienced notable volatility. The Federal Reserve's decision to maintain interest rates at 4.25%–4.50% was widely anticipated. However, Fed Chair Jerome Powell's remarks about the low probability of a recession sparked a significant market reaction. Bitcoin surged over 3.8% to approximately $87,427, while Ethereum and XRP also saw gains of 2.3% and 2.4%, respectively.

The market's response underscores the importance of Powell's statements over the initial rate decision. Analysts caution against relying solely on the rate announcement, emphasizing that Powell's comments often have a more substantial impact on crypto prices. For instance, Michael van de Poppe highlighted that "a guaranteed recipe to lose money" is to trade on the initial Fed interest rate decision alone, as it is the speech from Fed Chair Jerome Powell that typically moves Bitcoin's price.

As of now, Bitcoin is trading at $94,374, Ethereum at $1,801.91, and XRP at $2.11. These movements reflect the market's sensitivity to the Fed's monetary policy and the broader economic outlook.