BREAKING NEWS: FED Announced its Critical Interest Rate Decision! Good or Bad for Bitcoin?

As of today, inflation data from the #USA has been followed in traditional financial markets and the cryptocurrency sector. The announcement of inflation below expectations (3.3%) enabled crypto assets to exhibit upward movements.

Recently, the US Federal Reserve (FED) announced its new interest rate decision. The #FED announced that interest rates will be kept constant at 5.50%, in line with expectations.

The US Federal Reserve (FED) included the following information in its economic report shared with the interest rate decision:

** We do not expect it to be appropriate to reduce the policy target range until there is greater confidence that inflation will move sustainably towards 2%.

** Despite the lack of progress noted in the May 1 statement, modest progress was made towards the 2% inflation target.

** Fed Policymakers predict that GDP growth will be 2.1% and the unemployment rate will be 4% in 2024; both were unchanged from March.

Although the #FED did not make a surprise decision, the leading cryptocurrency #Bitcoin (BTC) faced selling pressure and experienced a decline to $ 68,800.

It was revealed seconds later that these declines were a shaking movement. After the liquidation of long positions, BTC compensated for a significant part of the recent declines.

As of now, all eyes in the crypto market are on FED Chairman Jerome Powell's press conference, which will start at 21.30 GMT.
$BTC