Bitcoin (BTC) increased to two weeks on March 20 among rumors that the US government is preparing the “main update” of its cryptographic policy.
4-hour BTC/USD table. Source: Cointelegraph/TradingView
Powell Fed introduces relief into actions, crypto
Data from CointeLraph Markets Pro i TradingView He showed that BTC/USD reached almost USD 87,500 for BitStamp.
Currently, consolidating nearly USD 86,000, Bitcoin took advantage of a rather nice meeting of the federal reserve on an earlier day when officials decided to maintain interest rates at the current levels.
Decision -makers confirmed that by the end of 2025 they provide for two cuts, and the chairman of Fed Jerome Powell described inflation as “much softened”.
“We don’t have to hurry to adapt our political position and we are to wait well for greater brightness,” he said in Opening statement Before the press conference, which occurred after the decision on the stakes.
The approach of “expectations and see” was enough to relieve restless risk resources, with Bitcoin joining American supplies, growing and ending the day higher. The S&P 500 ended with about 1% in the session on March 20, adding $ 500 billion for market capitalization.
Reacting Arthur Hayes, the former Crypto Exchange Bitmex CEO, suggested that the Fed had provided a key signal to traders to enhance the risk.
“Delivered Jaypow, QT basically for April 1. The next thing we need to get the existence for Realz is either release from SLR, or restarting QE”, he wrote In the characteristic period X referring to officials rotating from quantitative exacerbation to quantitative alleviation.
“There was 77,000 $ BTC, probably, but Stonks Prob has more pain to fully transform Jay into team Trump, so remain agile and realized.”
1-day S & P 500 chart. Source: Cointelegraph/TradingView
Bitcoin Traders Eye US Crypto advertisement
Bitcoin Traders, however, were more concerned about the potential change of cryptocurrency attitude in the US, because whispers suggested that the advertisement could take place on March 21.
Related: Bitcoin Futures “Deleverging” wipes an open interest of USD 10 billion in 2 weeks
“This would be his first important update from March 6, when the National Cryptographic Reserve was created,” Kobeissi’s commercial resource summarized In post X on this topic.
“Rumors of the President of the State Trump can make a significant change in his strategy.”
When Trump signed an executive order to create a strategic Bitcoin reserve at the beginning of this month, the markets remained surprisingly chilly, because it turned out that the plan would not necessarily include the purchase of BTC in the USA.
However, in the case of the latest daytime close to the key resistance trends, the cause of optimism quickly returned.
“Bitcoin only needs to collect additional +8%to put himself in order to regain the above scope and end this deviation,” popular trader and Rekt Capital analyst Reported.
“Is it a lot, considering that BTC increased by almost 13% from falls last week?”
1-week BTC/USD chart. Source: Rekt Capital/X.
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
