Bitcoin ($BTC ) hovers above $104,000 after the U.S. Federal Reserve decided to keep the benchmark interest rate unchanged for the fourth consecutive time.
The Federal Reserve's average forecast shows two rate cuts totaling 50 basis points this year. Meanwhile, futures traders are expecting a 71% chance of a rate cut in September.
The Federal Reserve has lowered its GDP estimates for 2025, expecting U.S. economic growth of only 1.4% in 2025.
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The most influential central bank also expects inflation in the United States to be around 3% this year, significantly above the Federal Reserve's 2% target.
