The Bitcoin and crypto markets are experiencing a slight upswing today, with BTC and other major altcoins making gains. The main catalyst behind this uptrend appears to be yesterday’s Federal Open Market Committee (FOMC) meeting. At the time of writing, Bitcoin’s price is up by 0.8% in the last 24 hours, currently trading at $29,486. Despite facing resistance around the critical resistance area of $29,750, BTC has shown resilience and is attempting to reclaim its upward trajectory. Moreover, other major cryptocurrencies are also in the green, with Ethereum (+1.0%), XRP (+1.4%), Cardano (+3%), and Solana (+7%) all enjoying gains. Bitcoin Follows TradFi’s Reaction The FOMC meeting has been a focal point for the crypto market’s movements. Federal Reserve Chairman Jerome Powell reiterated that the central bank remains data-dependent, indicating that further interest rate hikes are not ruled out. However, no decision on the matter has been reached yet. Related Reading: FOMC Delivers Expected 0.25% Rate Hike, Bitcoin Holds Steady Above $29,000 Powell emphasized that core inflation (both PCE, CPI) remains the primary focus. He also stated that FED will stop raising rates wa ..
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