Oh boy, get your crypto wallets ready! Bitcoin decided it was time for a little spring awakening on March 19. As the world held its breath for the Federal Open Market Committee (FOMC) to spill the beans, BTC was like, “I’m just gonna go ahead and make some money moves.” 🤑
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Traders were on the edge of their seats, waiting for the FOMC’s tea leaves and Chair Jerome Powell’s pearls of wisdom. You know, the usual suspects trying to figure out if the economy is doing the hokey-pokey or the cha-cha-cha. 🕺
And guess what? Powell played it cool, confirming that the Fed’s interest rates are chillin’ right where they’ve been since December 2024. No big moves, folks. Just the same old 4.25% to 4.5% range. 🛏️
But wait, there’s more! The Fed might have downgraded its economic growth outlook, but they’re still all about that inflation-busting life. And the market? Well, it was like, “We saw that coming.” 🙄
Cryptoheads and stock jocks alike had a hunch that the Fed’s quantitative tightening (QT) policy was about to get a trim. And lo and behold, the FOMC minutes confirmed it: a nice little haircut from $25 billion to $5 billion for the monthly redemption cap on Treasury securities. 💇♂️
Bitcoin was like, “Let’s party!” and rallied to an intraday high of $85,950. Meanwhile, the DOW was like, “We’re here too!” and added 400 points. The S&P 500 was like, “Don’t forget about me!” and gained 77 points. 🎉
And the cherry on top? Powell and the Fed gang are talking about two more rate cuts in 2025. Crypto traders are doing a little dance, and Bitcoin’s price is loving the attention. 💃
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2025-03-19 22:37