Bitcoin breaks through $98,000 as Fed keeps rates unchanged

Mars Finance News: According to Cointelegraph, the Federal Reserve announced maintaining the federal funds rate at 4.25%-4.50%. Fed Chairman Powell emphasized that inflation will rise, reaching the 2% target, while the economy remains stable. The market expects interest rates to rise to 3.6% by the end of 2025. Despite pressure from President Trump to lower interest rates, the Federal Reserve decided to keep rates unchanged. As a result, Bitcoin prices experienced significant volatility, dropping to $95,866 on May 7th before quickly rebounding to over $98,000, reaching a three-month high. The cryptocurrency market sentiment has turned "greedy," with spot Bitcoin ETFs seeing inflows of $4.41 billion in the past six weeks. Analysts warn that if the Federal Reserve delays rate cuts in 2025, Bitcoin may risk falling back to $70,000.