Fed Holds Interest Rates Steady: BTC Surges to 78K
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The U.S. Federal Reserve (Fed) kept the federal funds rate steady at the 3.50%-3.75 range, exactly as markets had anticipated. This decision, marking Jerome Powell's final meeting as chair, reflects the officials' efforts to balance resilient inflation pressures with signals of slowing growth. The policy statement emphasized that the bank will assess the timing of additional adjustments based on data flows, the evolution of the outlook, and the balance of risks.
Dissenting Votes in the Fed Decision and Hawkish Pressure
Four members dissented from the decision: Stephen Mirran called for a 25 basis point cut, while Beth Hammack, Neel Kashkari, and Lorie Logan advocated removing the bias toward maintaining rates. These hawkish voices are reinforcing the Fed's inflation priority and curbing easing expectations. Experts note that these dissenting votes could be decisive in tilting future policies toward tightening.
BTC Price and Technical Analysis: Current Levels
Bitcoin (BTC) is currently trading at 78.426,31 dollars; it has risen %0,35 in the last 24 hours. The 0.5% decline seen after the original decision has given way to a slight recovery. RSI at 61.66 is in the neutral-bullish zone, the trend is sideways but Supertrend is giving a bearish signal. EMA 20: holding at the 76.048,55 support.
| Supports | Level | Score | Distance |
|---|---|---|---|
| S1 | 71.926,08 | 69/100 ⭐ Strong | -8,33% |
| S2 | 75.679,32 | 62/100 ⭐ Strong | -3,54% |
| Resistances | Level | Score | Distance |
|---|---|---|---|
| R1 | 79.396,92 | 97/100 ⭐ Very Strong | +1,20% |
| R2 | 80.623,77 | 78/100 ⭐ Strong | +2,76% |
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Kevin Warsh Era Begins After Powell
Following Powell's term ending on May 15, Kevin Warsh will likely lead the next meeting in June. Warsh passed the Senate Banking Committee on Wednesday. Facing three hawkish objections, Warsh may need to push rate cuts through a tough fight, leaving monetary policy uncertain.
Rise in Treasury Yields and Oil Prices
Treasury yields jumped: the 10-year note rose 5 basis points to 4.40, while the two-year increased 9 basis points to 3.93. After a sharp oil decline at the start of the month on hopes of lasting peace between the US and Iran, WTI crude has surged to around 105 dollars/barrel, approaching post-war peaks. Higher energy costs are feeding into inflation while also triggering economic slowdown, putting the Fed in a dilemma.
Hawkish Fed and Risks for BTC Investors
The weight of hawkish voices signals that the new chair will face resistance in implementing easing policies; this reinforces a tightening bias in the direction of monetary policy. The Fed's prioritization between inflation and growth is creating a balancing act that increases volatility in markets. BTC investors risk pulling back to the S2 support (75.679$) if they fail to break the R1 resistance (79.397$). Cautious positions are recommended.