Posted 3/20/2024, 6:19:00 PM
Bitcoin Jumps Above $64K as Fed Holds Rates Steady, Maintains Rate Cut Outlook
- Bitcoin traded over $64,000 after the Fed's decision to keep rates and rate cut outlook steady
- Fed projected 3 rate cuts for this year, seen as neutral/positive for bitcoin
- U.S. Federal Reserve left interest rates steady at 5.25%-5.5% as expected
- Only one Fed participant expected more than 3 rate cuts this year vs 5 in December
- Tighter monetary policy seen as negative for crypto, lower rates increase crypto's allure
