Bitcoin returns to $98K as Fed holds rates steady despite Trump’s demand

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Peterson’s forecast came after Powell said in March that “we do not need to be in a hurry and are well-positioned to wait for greater clarity.”Magazine: Adam Back says Bitcoin price cycle is’ 10x bigger’, has’ empathy’ for ETF buyersThis article does not contain investment advice or recommendations.

Source: CoinMarketCapBitcoin (BTC) dropped below $97,000 to $95,866 after Powell’s speech, but it shot up to tap $98,000 for the first time since Feb.21 just hours later. Bitcoin momentum has been building, with the Crypto Fear & Greed Index returning to “Greed” territory, and spot Bitcoin exchange-traded funds (ETFs) posting inflows of almost $4.41 billion since March 26.

Related: Bitcoin price rallied 1,550% the last time the ‘BTC risk-off’ metric fell this lowOn March 9, network economist Timothy Peterson warned that if the Fed holds off on rate cuts in 2025, it may cause a broader market downturn, potentially dragging Bitcoin back toward $70,000.

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Author / Journalist: Cointelegraph by Ciaran Lyons

Category: Crypto

Markets: United States

Topics: Rate Powell Rates Interest Reclaimed Unchanged March Federal Bitcoin Market Reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-08 @ 03:49:22 (2 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 419 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28485292

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