Bitcoin Price Rebounds Above $102,000 After Fed Meeting Calamity: Why Is BTC Going Up?
Posted On December 19, 2024
Bitcoin (CRYPTO: BTC) has rebounded to $102,250 after taking a nosedive on Thursday following the FOMC meeting.
What Happened: Bitcoin cratered from above $105,000 before Thursday’s trading session to a low of $98,839 during U.S. night time hours.
It has since rebounded and is down 2.5% over the past 24 hours.
Crypto chart analyst Ali Martinez explained in an X post following the Fed meeting that the reaction wasn’t due to the 25-bps rate cut, which was largely expected, but rather concerns over persistent inflation and the possibility of prolonged elevated interest rates.
Despite the negative sentiment, Martinez advised traders to “keep calm, don’t …
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