Bitcoin Steadies Above $117,000 as Fed Holds Interest Rates at 4.25%–4.50%
- The Fed keeps rates at 4.25–4.50% for the 5th time, citing global trade pressure and economic uncertainty.
- Bitcoin trades above $117K with low futures speculation, signaling healthier market behavior.
- Cooling leverage and strong demand hint at a potential Bitcoin surge beyond $123K if trends persist.
On Wednesday, July 30, the U.S. Federal Reserve decided to hold the key interest rate at 4.25-4.50%, and it continues with its guarded stance against economic uncertainty. It is the fifth such pause in a row, though President Donald Trump had ramped up the pressure by calling on the Fed to cut rates. According to Fed chair Jerome Powell, the move was driven by persisting trade pressures on the global front and uncertainty in the economic projection.
The reactions of the markets were quite moderate. The Dow Jones Industrial Average went up by a slender margin of 0.06%, whereas the Nasdaq appreciated by 0.5%. The 10-year Treasury yield was up to 4%, and the U.S. Dollar Index rose slightly to 99.4. Investors seemed to have already factored in the Fed move, and the focus was soon set upon digital necessities, specifically Bitcoin.