Bitcoin extended its rally toward $86,000 as the Fed held rates steady, announced plans to trim its “QT” policy and left the option for two interest rate cuts in 2025 on the table.
Bitcoin (BTC) price action turned bullish on March 19 as markets grew anxious for the release of the Federal Open Market Committee (FOMC) minutes and a press conference from Federal Reserve Chair Jerome Powell.
BTC/USDT 1-day chart. Source: TradingView
Generally, traders keep a close eye on FOMC minutes, along with Powell’s comments, to obtain direct insights into the Fed’s take on US economic health, along with their plans for monetary policy and interest rates.
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