Bitcoin updates two-week high

Bitcoin BTC $83,071.65 Bitcoin 0.57% Market capitalization $1.65 trillion VOL. 24 hours $0.75 billion has risen to two-week highs amid rumors of a loud US statement on the crypto market. on March 20, the price of the first cryptocurrency on the Bitstamp exchange reached almost $ 87,500 and is currently consolidating around $ 86,000. The growth was spurred by the rather soft rhetoric of the US Federal Reserve, which decided to leave the rate unchanged following the meeting.

Federal Reserve Chairman Jerome Powell said that inflation has «declined substantially» and the regulator can afford to wait for more certainty before making new decisions. At the same time, officials predict two rate cuts by the end of 2025. This position provided a breath of fresh air for risky assets, as U.S. stock indices rose alongside cryptocurrencies. The S&P 500 added about 1% during the March 20 session, increasing its market capitalization by $ 500 billion.

Meanwhile, traders are focused on a possible change in the US approach to regulating the crypto market. President Donald Trump is expected to make an important statement on this topic on March 21. This could be the first policy update since the creation of the national crypto reserve at the beginning of the month.

At the time, the markets reacted with restraint, as the program did not provide for immediate purchases of Bitcoin by the government. However, now analysts are already recording the breakout of important resistance levels, which could open the way for further growth. According to the popular trader Rekt Capital, bitcoin needs about 8% more growth to finally get out of the «zone of uncertainty.»