Bitcoin (BTC) is holding steady above the $104,000 mark following the U.S. Federal Reserve’s decision to leave benchmark interest rates unchanged for the fourth consecutive time.
On June 18, the U.S. Federal Reserve announced it would keep interest rates unchanged at 4.25% to 4.5%, signaling a cautious approach amid persistent inflation, solid economic growth, and rising geopolitical tensions.
The decision matched market expectations, with the Fed reiterating that future moves will depend on economic data. Bitcoin responded positively, climbing 0.43% to $104,364, while the total crypto market cap rose to $3.23 trillion.
The decision comes amid renewed volatility fueled by the Israel-Iran conflict and rising oil prices, which could reignite inflation. Despite political pressure, including harsh criticism from former President Donald Trump calling Fed Chair Jerome Powell “stupid,” the central bank remains focused on its inflation-control mandate.
Trump renewed calls for a 2-point rate cut, arguing it would boost economic growth—but the Fed continues to resist political influence, staying the course as inflation risks linger.
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