The Fed held rates – no surprise there. But the message was clear: inflation remains elevated and any rate cuts will be limited. Key takeaways: ▪️ Inflation progress is slower than hoped, with near-term pressures rising again ▪️ Policymakers are leaning toward fewer cuts – only if inflation improves ▪️ The economy is still resilient, giving the Fed room to stay patient For now, Bitcoin is taking the news calmly. But as inflation lingers, its role as a hedge may come back into focus.