FOMC Meeting Delivers Bullish Surprise, Bitcoin (BTC) Price Surpasses $85K Mark

The US Federal Open Market Committee meeting turned out to be a bullish surprise for financial markets, including crypto. Jerome Powell, chairman of the US Federal Reserve, announced that the interest rates would remain unchanged.

The US Federal Open Market Committee meeting had a bullish impact on financial markets, including crypto, as Jerome Powell, chairman of the US Federal Reserve, announced that the interest rates would remain unchanged.

The US Fed will keep its interest rates at 4.25% to 4.50%, showing that the central bank will likely ease its quantitative tightening (QT) policies.

Moreover, the Fed’s stance could also hint at a dovish policy shift and potentially the start of quantitative easing (QE) as the end of QT is happening earlier than expected.

In simple terms, the Fed will likely increase the money supply, which would lower the interest rates, to boost the US economy.

Arthur Hayes, a co-founder of the BitMEX crypto exchange, wrote in an X post that the next step for a stronger bullish momentum would be the Supplementary Leverage Ratio (SLR) exemptions or a restart of QE.

“JAYPOW delivered, QT basically over Apr 1. The next thing we need to get bulled up for realz is either SLR exemption and or a restart of QE. Was BTC₇₇,₀₀₀ the bottom, prob. But stonks prob have more pain left to fully convert Jay to team Trump so stay nimble and cashed up.”

77,000 BTC price at the time of writing: BTC