Here's a summary of the recent events regarding Bitcoin (BTC) and the Federal Reserve's decision:

- **Federal Reserve Decision:**

- The United States Federal Reserve has chosen to leave interest rates unchanged, disappointing hopes for a potential rate cut in March.

- During the Federal Open Markets Committee (FOMC) press conference on January 31, the Fed stated that interest rates would stay at 5.25%-5.50%.

- The decision was accompanied by the Fed's indication that it would need "greater confidence" in addressing inflation pressures before considering rate cuts.

- **Bitcoin Price Reaction:**

- Bitcoin's price fell a little over 2.2% following the FOMC announcement.

- The current price of Bitcoin is approximately $42,590, reflecting a 7% increase for the week.

- **Fed's Economic Outlook:**

- The FOMC emphasized a "solid" economic expansion, citing growth in jobs and a decrease in the unemployment rate as evidence of economic strength.

- The Fed remains cautious about inflation risks and expressed uncertainty about the economic outlook.

- **Market Analyst's View:**

- According to IG Markets analyst Tony Sycamore, Bitcoin is trading lower due to a "deterioration in risk sentiment" resulting from the Fed's hawkish stance.

- Sycamore expects a potential rally toward $45,000 before a return to the mid-$30,000 range, followed by a resumption of the general uptrend for Bitcoin.

$BTC

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