Bitcoin Regains the $98,000 Mark Influenced by the Federal Reserve Bank of Atlanta (Federal Bostic) Mentioning the Possibility of Two Rate Cuts This Year

According to CoinMarketCap on the 21st, Bitcoin is trading at $98,430.09, up 1.65% from 24 hours ago as of 11 a.m.

Bitcoin price rose above the $98,000 mark on the 21st (local time) due to the influence of the U.S. Federal Reserve Bank of Atlanta (Federal Bostic), which mentioned the possibility of two rate cuts this year.

According to CoinMarketCap on the 21st, Bitcoin is trading at $98,430.09, which is 1.65% higher than 24 hours ago as of 11 a.m.

Bitcoin has been locked in a box since hitting an all-time high of $109,114.88 on the 20th of last month. It is currently down about 9.87% from its all-time high.

It is also the first time since the 14th that Bitcoin has surpassed the $98,000 mark. Recently, Bitcoin has been moving sideways in the range of $95,000 to $96,000.

Bitcoin rebounded slightly on the rise of the possibility of the U.S. Federal Reserve's monetary policy easing.

On the 20th (local time), President Bostic said, "The basic expectation is that we will cut it twice by 0.25 percentage points this year," adding, "However, the uncertainty about it is very large and there are many things that can affect it in both directions."

Although Bostic is not a member of the Federal Open Market Committee (FOMC), which sets interest rates this year, he seems to have raised expectations for monetary policy easing in the market as he has been classified as a "hawk."

Altcoins were mixed on the day.

XRP, which has recently been approved by the Spot Exchange Traded Fund (ETF) in Brazil, is trading at $2.67, down 1.03% from 24 hours ago.

Solana is up 3.73% at $174.48 at the same time.

Solana has recently been weak due to a large drop in Solana-based meme coins such as Official Trump. Libra, which was promoted by Argentina's President Javier Milay through X and saw its price soar, is also a meme coin based on Solana that has since plunged.

Meanwhile, Say surged on news that the purchase was made by World Liberty Financial (WLFI), led by the family of U.S. President Donald Trump.

At the same time, Say is trading higher by 14.31% at $0.2631.

WLFI said it had purchased 1.1 million units of Say the day before.