$BTC

# **Bitcoin Touches US$98 Thousand Again as The Fed Holds Interest Rates**

The price of Bitcoin recorded an increase of more than 2% in the last 24 hours, reaching around US$98,700 after the Federal Reserve (The Fed) decided to keep interest rates in the range of 4.25% to 4.5% for the fourth consecutive time on Thursday (08/05).

Even though President of the United States (US) Donald Trump continues to push for cuts, the central bank remains cautious. In its statement, The Fed emphasized that economic uncertainty is still high, so data will continue to determine the central bank's next steps.

On the other hand, The Fed Chair Jerome Powell asserted that pressure from President Trump will not affect the independence of the institution.

“We will continue to use our tools to maintain price stability and ensure that employment remains optimal,” said Powell.