TradingKey – Bitcoin (BTC) has fully digested the latest Federal Reserve rate decision, rebounding to $118,370 after briefly dipping to $116,000 in early Asian trading on Thursday, July 31.
The Fed announced it would hold interest rates steady at 4.25%–4.50% for the fifth consecutive meeting, in line with market expectations.BTC initially weakened on the news, but quickly reversed course, forming a deep V-shaped recovery and reclaiming the $118K level.
Bitcoin price chart, source: CoinMarketCap
According to Matthew Sigel, Head of Digital Assets Research at VanEck, the crypto market is now watching for signs of future policy easing. If the Fed signals a more accommodative stance, Bitcoin could benefit from renewed risk appetite. However, Chair Jerome Powell has yet to provide guidance on the September rate meeting.
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