Bitcoin barely moved on Wednesday after the U.S. Federal Reserve decided to keep interest rates at their current levels.
Bitcoin's price remained relatively steady on Wednesday after the U.S. Federal Reserve kept interest rates at their current level on Wednesday.
Regarding the possibility of a rate cut, the central bank said that "the Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%.""The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks," the FOMC statement added.
According to the CME FedWatch Tool, the market now expects at least one rate cut by the July 31 FOMC meeting and rates to be about 50 to 100 basis points lower by the end of 2024.
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