Bitcoin's price is flat as Federal Reserve keeps interest rates unchanged

Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Bitcoin's price was mostly flat on Wednesday after the Federal ReserveThe world's largest cryptocurrency by market capitalization was unchanged at $27,186 at 2:15 p.m.

"Even with the same rate until the end of 2023, the yield of fixed income will continue to grow, which will exacerbate the situation for risk assets," he told The Block. He added that the current 5.5% target rate is not completely priced in yet, and that the current rate will affect markets for at least several months.

"There will be roughly 75 basis points of interest rate cuts in 2024 as the Fed becomes increasingly dovish," CoinShares Head of Research James Butterfill told The Block. "Introducing certainty into the markets with a rate pause is likely a positive signal for overall sentiment and likely will increase appetite for risk assets in the near term," he told The Block.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Crypto Prices Little Changed as Federal Reserve Holds Interest Rates SteadyThe pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank's next policy meeting in November.
Source: CoinDesk - 🏆 291. / 63 Read more »

Asian markets dip ahead of Fed decision on interest ratesAsian shares declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve.
Source: MarketWatch - 🏆 3. / 97 Read more »

Fed declines to hike, but points to rates staying higher for longerThe Federal Reserve on Wednesday released its decision on interest rates and updates on the economy.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Federal Reserve expected to pause interest rates as soft landing optimism continuesFederal Reserve officials will meet this week to make their next decision on what to do with interest rates to bring inflation down.
Source: CBS21NEWS - 🏆 304. / 63 Read more »