BTC was more volatile before the announcement.
This decision, which was largely expected despite declining inflation in the US, has had no impact on the price of BTC, at least for now.
The central bank statement reads that the “unemployment rate is showing some signs of stabilization,” but warned that “inflation remains somewhat elevated.”
This claim is quite controversial, considering that the country’s CPI data for December and November was lower than expected. At the time, the POTUS took every opportunity to urge Fed Chairman Jerome Powell to keep cutting rates.
Still, the Fed said it remains committed to achieving a healthier 2% inflation rate over the longer term, a level not seen in years.
“Uncertainty about the economic outlook remains high. The Committee is alert to the risks to both sides of its dual mandate,” the statement continued.
Bitcoin’s price experienced increased volatility earlier today, before the decision was made public. It rose above $90,000 a few times, but was rejected at one point and driven south to $88,750. Nevertheless, rates remained steady above $89,000 after the Fed announced its rate cuts.
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