Bitcoin (BTC ($105,442.68)) soared past the $105,000 mark on Wednesday as investor sentiment shifted following the Federal Reserve’s decision to pause its interest rate cuts.
The world’s largest crypto, which initially dipped to $101,800 after the announcement, quickly rebounded, marking its highest level in three days.
During the Federal Open Market Committee meeting, the Fed left its benchmark interest rate unchanged, keeping it within the target range of 4.25% to 4.50%.
Since President Donald Trump’s election victory in November, Bitcoin has gained over 50%, fueled partly by expectations of more crypto-friendly policies under his administration.
As the Federal Reserve continues to monitor economic data, traders remain cautious but optimistic about Bitcoin’s trajectory.
“Immediate growth, as we’ve seen in previous bull cycles, may not follow as much of the optimism surrounding Trump’s stance on crypto has already been priced in following recent bullish trends,” Gracy Chen, CEO of Bitget, told Decrypt.
