CAUSE BTC TURNS DOWN!
IS HALVING SEASON OVER?
In the last 24 hours, nearly $200 million in derivative orders were liquidated in the crypto market, with longs accounting for 55%. (See the image below for much more specific information about the market)
Fed keeps interest rates unchanged for 7th consecutive time - Bitcoin price "returns to starting point"
The Fed continues to maintain interest rates at a high level of 5%, causing the Bitcoin and crypto markets to have an extremely volatile 12 trading hours.
After the meeting on June 12 (US time), the Federal Open Market Committee (FOMC) of the US Federal Reserve (Fed) announced the latest interest rate adjustment, thereby continuing to keep it unchanged. Interest rates range from 5.25 to 5% - the highest threshold since the 2008 financial crisis.
This was the 7th consecutive meeting that the Fed did not adjust interest rates. The reason is because Fed Chairman Jerome Powell still maintains the goal of bringing inflation in the world's largest economy to 2%.
This information caused Bitcoin to recover from 67,800 USD to 70,000 USD because this was a positive signal to make the Fed reconsider its stance of reducing interest rates.
