Bitcoin (BTC) Price Action became bullish in March. 19 Markets have grown with concern over the release of Federal Open Market Committee (FOMC) minutes and press conferences from Federal Reserve Chair Jerome Powell.
BTC/USDT 1-day chart. Source: TradingView
In general, traders pay attention to the minutes of the FOMC along with Powell’s comments, and gain direct insight into the Fed’s US economic health, along with monetary policy and interest rate planning.
In the presser, Powell confirmed that the Fed has not changed interest rates since December 2024, in its target range from 4.25% to 4.5%.
The Fed downgraded its economic growth outlook and emphasized that tamping inflation remains a dependent condition, but the Fed’s statement is largely in line with expectations of market participants.
Crypto and equity traders also project a reduction in the Fed’s quantitative tightening monetary policy (QT), with FOMC minutes confirming that the central bank will “reduce the monthly redemption cap for Treasury securities from $25 billion to $5 billion.”
Changes to the FOMC statement (red). Source: FederalReserve.gov
Related: Bitcoin price volatility increases with each FOMC day – Will it be different this time?
In response to the FED statement, Bitcoin prices added to daily profits, ralliving at an intraday high of $85,950 at the time of writing.
The Dow added 400 points, while the S&P 500 index added 77. The oral commitment of Powell and the Fed policymakers to two additional fee cuts in 2025 is in line with crypto traders’ expectations and could further support the current recovery in Bitcoin prices.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
