Bitcoin (BTC) fell on Wednesday after the Federal Reserve decided to keep interest rates unchanged, dampening hopes of a potential rate cut in March. The price of Bitcoin dropped by a little over 2.2% following the Federal Open Market Committee's statement, currently hovering around $42,590. However, it is worth noting that over the past week, Bitcoin still saw a 7% increase, according to TradingView data. The FOMC stated that it does not expect it to be appropriate to reduce the target range until it has more confidence that inflation is sustainably approaching 2%. The Federal Reserve reaffirmed its cautious stance, stating that while inflation has decreased over the past year, it remains at a level where a rate cut is by no means certain. A rate cut is often seen as a bullish factor for risk assets like cryptocurrencies and technology stocks. Analyst Tony Sycamore from IG Markets noted that Bitcoin is trading lower due to the "deterioration in risk sentiment" caused by the Federal Reserve's stance. Sycamore added that investors may expect Bitcoin to rise to around $45,000 and then retrace back to the mid-$30,000 range, after which he anticipates a resumption of the overall upward trend for Bitcoin. #Write2Earn‏