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Crypto Stays Strong as Fed Pauses Rate Cuts: What It Means for Investors
- Federal Reserve Chief Powell signaled a pause in rate cuts, opting to wait for more data before action.
- Trump pressures Fed for more aggressive cuts amidst concerns about inflation.
- Despite no easing, Bitcoin maintains stability above $105,000, suggesting resilience to Fed decisions.
- Powell indicated during a U.S. Congress testimony that rate cuts are not imminent due to economic uncertainties.
- Political pressure and economic concerns have not swayed the Fed from keeping benchmark interest rates steady.
- Former President Trump criticized Powell for not reducing rates, claiming it hampers industry growth.
- Cryptocurrency market shows strength as Bitcoin's value holds above $105,000 despite Fed's cautious stance.
- Investors are keeping a close watch on Powell’s future statements for potential signals of rate cuts or dovishness.
- Analysts suggest that any indication of future rate cuts from Powell could propel Bitcoin past current resistance levels.
- Market anticipates Powell's upcoming speech for any shift towards economic easing that could trigger a new rally in crypto.
- Bitcoin's stability above $105,000 showcases its resilience amid macroeconomic uncertainties.
- In today's crypto news, Ethereum experiences a 26% decline in on-chain activity amid geopolitical tensions leading to user migration.
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