Bitcoin (BTC) increased to two -week summits on March 20 in the midst of rumors that the United States government was preparing a “major update” of its cryptographic policy.
BTC / USD 4 hours. Source: Cointelegraph / TradingView
Powell of Fed injects a relief of actions, Crypto
Cointelegraph Markets Pro and TradingView data have shown that BTC / USD reaching almost $ 87,500 on Bitstamp.
Currently consolidating nearly $ 86,000, Bitcoin benefited from a fairly cool federal reserve meeting the day before during which those responsible have chosen to hold interest rates at current levels.
Political decision -makers have confirmed that they are considering two cuts by the end of 2025, the president of the Fed, Jerome Powell, describing inflation as having “supported considerably”.
“We do not need to be in a hurry to adjust our political position, and we are well placed to wait for greater clarity,” he said in an opening statement before a press conference that followed the rate decision.
A “waiting” approach was sufficient to relieve troubled risk assets, Bitcoin joining American actions to increase and end the day up. The S&P 500 ended by around 1% for the March 20 session, adding $ 500 billion in market capitalization.
Reaging, Arthur Hayes, former CEO of Crypto Exchange Bitmex, suggested that the Fed had delivered a key signal for merchants to add risks.
“Jaypow delivered, QT, mainly on April 1. The next thing we need to be induced for Realz is either an SLR exemption and or a restart of QE,” he wrote in a characteristic X post, referring to civil servants turning from quantitative tightening to quantitative relaxation.
“Was BTC $ 77k below, Prob. But the Stonks have more pain to fully convert Jay to Trump team, so stay agile and cashed.”
S&P 500 1 day. Source: Cointelegraph / TradingView
Bitcoin Traders Eye Us Crypto Announcement
Bitcoin traders nevertheless cared more about a potential change in the American cryptography posture, because Whispers suggested that an announcement could arrive on March 21.
In relation: Bitcoin Futures “ Deveragening ” Lipids 10 billion dollars of interest open in 2 weeks
“It would be its first major update since March 6, when the national cryptography reserve was created,” said Kobeissi’s letter.
“The rumors of the President of the Trump State could bring a significant change to his strategy.”
When Trump signed an executive decree to create a Bitcoin strategic reserve at the beginning of the month, the markets remained surprisingly cool because it appeared that the plan would not necessarily imply the BTC of purchase of the United States.
However, with the latest daily lines of the keys to resistance trend above, the cause of optimism quickly returned.
“Bitcoin only needs to rally + an additional 8% to position yourself for recovery of the fork above and put an end to this downward deviation,” reported Rekt Popular Capital and Analyst.
“Is it a lot, since BTC increased by + 13% from last week?”
BTC / USD 1 week. Source: Rekt Capital / X
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