Bitcoin (Btc) Spiking at two weeks high on March 20 among rumors that the US government is preparing a “major update” in its crypto policy.
BTC/USD 4 hour chart. Source: Cointelegraph/TradingView
Fed’s Powell injection of relief in stocks, crypto
Data from Cointelegraph Markets Pro and Tradingview BTC/USD showed up to nearly $ 87,500 in Bitstamp.
Currently combined near $ 86,000, Bitcoin benefited from a relatively cool federal federal meeting the day before where officials decided to hold interest rates at current levels.
Policy manufacturers have confirmed that they have considered two cuts by the end of 2025, with Fed chair Jerome Powell describing inflation as “eased significantly.”
“We do not have to rush to adjust our policy stance, and we are well positioned to wait for more clarity,” he said in a Statement of opening Prior to a press conference to comply with the decision rates.
A “wait-and-see” approach is sufficient to alleviate the disturbed risk assets, with Bitcoin joining US stocks in turging and ending the day higher. S&P 500 ended almost 1% for the March 20 session, adding $ 500 billion to the market cap.
Reacting, Arthur Hayes, former CEO of Crypto Exchange Bitmex, suggested that the Fed delivered a major signal for entrepreneurs to add risk.
“Jaypow was delivered, the QT really on April 1. The next thing we need to be bulled for Realz is either SLR exemption and or a Restart of QE,” he write In a characteristic x post, which refers to the officials rotating from the volume of easing volume.
“Is $ BTC $ 77K under, prob. But the Stonks prob has more pain left to fully convert Jay to Team Trump so stay agile and cashed up.”
S&P 500 1-day chart. Source: Cointelegraph/TradingView
Bitcoin entrepreneurs eye to us with crypto announcements
However, Bitcoin entrepreneurs have taken care of more about a potential change in the US crypto posting as Whispers suggests that an announcement may come on March 21.
Related: Bitcoin Futures ‘Deleveraging’ wiped $ 10B open interest in 2 weeks
“This is his first major update since March 6th, when the National Crypto Reserve was established,” the trade -trader resource The Kobeissi Letter Summary To an x post on the subject.
“The President of the State of the President can make a significant change in his approach.”
When Trump signed an executive command to create a strategic bitcoin reserve earlier this month, the markets Remained surprisingly cool As it appears that the plan is not necessarily involved in the US purchase of BTC.
However, in the latest sun -day close to the top Resistance trend linesThe cause of the optimization is to return quickly.
“Bitcoin only needs to rally with an additional +8% to position itself for a reclaiming of the above scope and finish this downside deviation,” famous businessman and analyst rectal capital reported.
“Is that a lot, considering the BTC has been nearly +13% since the lows last week?”
BTC/USD 1-week chart. Source: Rek Capital/X.
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