Reserve

FOMC

Future

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s price has risen above $58,000 after the U.S. Federal Reserve maintained the current interest rates.</li>
 <li>The Federal Open Market Committee has decided to continue reducing its holdings of Treasury securities and agency debt.</li>
</ul>
<p>Bitcoin’s value has once again surpassed the $58,000 mark. This price increase occurred after the U.S. Federal Reserve announced that it would keep interest rates at their current level.</p>
<p>The Federal Open Market Committee, as predicted by most analysts, decided to maintain the benchmark federal funds rate within the current range of between 5.25% and 5.50%. The central bank confirmed this in an official statement.</p>
<h2 id="the-future-of-interest-rates">The Future of Interest Rates</h2>
<p>The central bank also commented on the possibility of a rate cut. They stated that they do not anticipate reducing the target range until they have greater confidence that inflation is moving sustainably toward 2%.</p>
<p>The Committee also plans to continue reducing its holdings of Treasury securities and agency debt. Starting from June, the monthly redemption cap on Treasury securities will be reduced from $60 billion to $25 billion.</p>
<h2 id="bitcoin-s-market-position">Bitcoin’s Market Position</h2>
<p>Currently, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is hovering around the $58,000 mark. There has been a noticeable increase in BTC short liquidations recently. The majority of recent liquidations were shorts, with $6 million out of $6.8 million liquidated in the past hour.</p>
<p>Major stock indices have remained strong despite the possibility of cuts coming later than expected. The Dow Jones was up 0.4%, the S&amp;P 500 gained 1.02%, and the Nasdaq Composite rose 2.03% during mid-day trade in the U.S. on Friday.</p>
<p>The yield on the 10-year Treasury note decreased slightly after the Fed announcement, settling at 4.683% on Tuesday. The U.S. dollar is currently on a strong rally against everything, according to a recent report by QCP Capital.</p>
<p>The CME’s FedWatch tool now predicts a 93.6% chance that rates will remain steady at June’s FOMC meeting.</p>

Bitcoin Rises Above $58,000 Amid Fed’s Struggles to Curb Inflation

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