Bitcoin Price Prediction as US Federal Reserve Keeps Interest Rate Unchanged – Will BTC Blast to $30,000?
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Today’s Bitcoin price stands at $27,033, having experienced a trading volume of $13 billion over the past 24 hours. Bitcoin has witnessed a slight dip, declining around 0.50% during this timeframe.
As the US Federal Reserve holds steady on its decision, keeping the Fed funds target range anchored at 5.25-5.5%, the cryptocurrency market waits with bated breath.
The Fed has not only signalled the potential for another 25 basis point hike this year but has also painted a picture of diminishing prospects for rate cuts in the long run.
Their guidance steers inflation back to the 2% mark, reducing the likelihood of an impending recession. Despite the hurdles the economy currently grapples with, there’s a palpable market scepticism.