The U.S. Federal Reserve has decided to keep interest rates steady, sparking discussions about whether Bitcoin's price will next head towards $60,000 or $70,000. This decision follows a sharp drop in Bitcoin (BTC), which fell below the $64,000 mark.
In the latest update from the Federal Open Market Committee (FOMC), Fed Chair Jerome Powell indicated that while interest rates will remain stable between 5.25% and 5.5%, a potential rate cut might occur in September. This decision will depend on incoming economic data. Powell emphasized that any changes would be guided strictly by economic indicators, reaffirming the Fed's commitment to its 2% inflation target and its independence from political pressures.
The combination of geopolitical tensions and various economic indicators will likely influence Bitcoin's future price movements, with market forecasts and the Fed's decisions playing a crucial role in shaping the market's direction.
