{"id":13136,"date":"2024-05-01T21:30:06","date_gmt":"2024-05-01T18:30:06","guid":{"rendered":"https:\/\/forklog.com\/en\/federal-reserve-maintains-key-rate-as-bitcoin-climbs-to-58000\/"},"modified":"2024-05-01T21:30:06","modified_gmt":"2024-05-01T18:30:06","slug":"federal-reserve-maintains-key-rate-as-bitcoin-climbs-to-58000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/federal-reserve-maintains-key-rate-as-bitcoin-climbs-to-58000\/","title":{"rendered":"Federal Reserve Maintains Key Rate as Bitcoin Climbs to $58,000"},"content":{"rendered":"

On May 1, the United States Federal Reserve maintained<\/a> its key interest rate range at 5.25\u20135.5% per annum.<\/p>\n

The decision aligned with market expectations. <\/p>\n

On April 10, the U.S. Bureau of Labor Statistics released<\/a> a report on consumer prices, showing an index value higher than forecasted\u20143.5% compared to 3.4%.<\/p>\n

The cryptocurrency market reacted positively to the decision. Bitcoin briefly returned to levels above $58,000, but soon fell below this threshold again.<\/p>\n

\"Snimok-ekrana-2024-05-01-v-21.21.46\"
5-minute BTC\/USDT chart on Binance. Data:\u00a0TradingView<\/a>.<\/figcaption><\/figure>\n

In the past hour, all top-10 assets by market capitalization showed positive dynamics. According to CoinGecko<\/a>, Dogecoin (+3.8%) and Solana (+3.4%) saw the largest gains.<\/p>\n

\"Snimok-ekrana-2024-05-01-v-21.22.21\"
Data: CoinGecko.<\/figcaption><\/figure>\n

According to CNN<\/a>, JPMorgan and Goldman Sachs anticipate the first Fed rate cut in July, while Wells Fargo expects it in September. Analysts at Bank of America do not foresee a reduction until December. Some Fed officials, according to the publication, have suggested the possibility of a rate hike instead of a cut.<\/p>\n

On May 1, Bitcoin fell below $57,000. Analysts at Standard Chartered warned that failing to hold the $60,000 level has reopened the path for the leading cryptocurrency to the $50,000\u201352,000 range.<\/p>\n

Experts consulted by ForkLog linked the local correction to stock market sell-offs, the strengthening of the U.S. dollar index, and investor fears over the slowing pace of Fed rate cuts.<\/p>\n

Back in July 2023, the Fed raised the key rate to 5.25-5.5% per annum. Since then, the rate has remained unchanged<\/a>. This marks the sixth consecutive decision to maintain the rate.<\/p>\n","protected":false},"excerpt":{"rendered":"

On May 1, the United States Federal Reserve maintained its key interest rate range at 5.25\u20135.5% per annum. The decision aligned with market expectations. On April 10, the U.S. Bureau of Labor Statistics released a report on consumer prices, showing an index value higher than forecasted\u20143.5% compared to 3.4%. The cryptocurrency market reacted positively to […]<\/p>\n","protected":false},"author":1,"featured_media":13135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1224],"class_list":["post-13136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13136"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13135"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}