Coinspeaker
Bitcoin (BTC) Regains $60,000 as US Fed Leaves Interest Rates Unchanged
After a downward trend since April 30, with prices falling below $58,000, Bitcoin (BTC) has made a notable recovery. As of Friday morning, the crypto asset briefly reclaimed the $60,000 levels, signaling a potential trajectory towards the crucial $65,000 threshold analysts believe is pivotal for a potential rally. This rebound in Bitcoin’s value is largely attributed to the Federal Reserve’s decision to maintain interest rates unchanged, citing insufficient progress toward lowering inflation.
Unchanged Interest Rates
The Federal Reserve made it clear on Wednesday that high inflation has been a persistent issue in recent months, stating that it will hold off on cutting interest rates until it is more confident that price increases are sustainably slowing towards its 2% target.
This decision has kept the bank’s key rate at its highest level in over two decades, ranging from 5.25%
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