Bitcoin Rallies Amid Fed’s Interest Rate Decision, Showcasing Resilience Against ETF Outflows

On March 21, Bitcoin maintained its upward trajectory, buoyed by a quick recovery that delivered a 12% increase in its price. This uptick followed a period of consolidation within a tight range, sparked by a favorable response to comments made by the United States Federal Reserve, which opted to keep interest rates steady. The Federal Reserve’s decision came after the Federal Open Market Committee (FOMC) meeting, with Chair Jerome Powell indicating potential rate cuts later in the year. He stated it would be “appropriate” to initiate such cuts once there was greater confidence in inflation moving sustainably towards the 2%