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The US Federal Reserve (Fed) surprised financial markets on March 20 by announcing that interest rates would be kept steady at a comfortable level of 5.25% - 5.5%. This decision, in line with analysts' expectations, has breathed new life into the cryptocurrency market, allaying fears of tighter monetary regulations.

Optimism Seeking in Economics

The Federal Open Market Committee (FOMC) maintained its forecast for a cut in interest rates later this year, sending a signal of caution but also confidence in the economy.

Fed Chairman Jerome Powell helped bolster that confidence with his anticipated speech, which revitalized the crypto market, pushing Bitcoin close to annual highs after a period of significant decline ahead of the FOMC meeting.

Impact on Cryptocurrencies

Bitcoin saw an impressive rise, reaching the value of $68,032, marking an appreciation of 6.52%. The market as a whole reflected this positive trend, with most tokens seeing increases between 5% and 15%. Certain cryptocurrencies such as Pepe (PEPE) and Bitcoin Layer-2 Stacks (STX) have made significant progress, exceeding 20% ​​gains.