Bitcoin Price Rebounds Above $101K, Following Earlier Dip to $99K Post FOMC Meeting

CoinMarketCap16:24

Key Points Fed’s chair Jerome Powell said the central bank is not looking to add Bitcoin to its balance sheet. However, a national BTC reserve would involve the US Treasury putting BTC on the balance...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2492146767?lang=en_US&edition=fundamental","thumbnail":"https://academy-public.coinmarketcap.com/srd-optimized-uploads/b3a26c380ec846a9a872066214e79620.jpeg","is_english":true,"pubTime":"2024-12-19 16:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2492146767","market":"us","top_or_hot":-1,"title":"Bitcoin Price Rebounds Above $101K, Following Earlier Dip to $99K Post FOMC Meeting","media":"CoinMarketCap","content":"<div>\n<p>Key Points\n\nFed’s chair Jerome Powell said the central bank is not looking to add Bitcoin to its balance sheet.\nHowever, a national BTC reserve would involve the US Treasury putting BTC on the balance...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/6763d8519616534df5c4e1f8/\">Source Link</a>\n\n</div>\n","source":"coinmarketcap_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Price Rebounds Above $101K, Following Earlier Dip to $99K Post FOMC Meeting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Price Rebounds Above $101K, Following Earlier Dip to $99K Post FOMC Meeting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-19 16:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/6763d8519616534df5c4e1f8/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nFed’s chair Jerome Powell said the central bank is not looking to add Bitcoin to its balance sheet.\nHowever, a national BTC reserve would involve the US Treasury putting BTC on the balance...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/6763d8519616534df5c4e1f8/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4077","symbol_name":"互动媒体与服务","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/6763d8519616534df5c4e1f8/","article_id":"2492146767","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/b3a26c380ec846a9a872066214e79620.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492146767","pubTimestamp":1734596687,"columns":[],"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Fed’s chair Jerome Powell said the central bank is not looking to add Bitcoin to its balance sheet.However, a national BTC reserve would involve the US Treasury putting BTC on the balance sheet.Bitcoin’s price rebounded today above $101,000, following an earlier dip to $99,000 levels, triggered by liquidations in the crypto market.At the moment of writing this article, BTC is trading above $101,600, down by 2% today.However, the digital asset’s price recorded a quick rebound to current levels following an earlier price drop close to $99,000.However, he also addressed potential upcoming 2025 interest rate cuts as well, indicating that there will only be two rate reductions, next year, according to reports highlighted by CNBC.Powell also addressed Bitcoin and said the central bank is not looking to add BTC to its balance sheet. He said that the Fed is not allowed to own BTC, according to the Federal Reserve Act, and they are not looking for a change. According to him, this is the kind of","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4077":"互动媒体与服务","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4601":"加密货币现货ETF","BK4588":"碎股","POST":"Post Holdings","BK4212":"包装食品与肉类","FOMC":"FOMO CORP."},"translate_title":"比特币价格在FOMC会议后稍早跌至99,000美元后反弹至101,000美元以上","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FOMC":1,"POST":1},"content_text":"Key Points\n\nFed’s chair Jerome Powell said the central bank is not looking to add Bitcoin to its balance sheet.\nHowever, a national BTC reserve would involve the US Treasury putting BTC on the balance sheet.\n\nBitcoin’s price rebounded today above $101,000, following an earlier dip to $99,000 levels, triggered by liquidations in the crypto market.\nThis comes after yesterday’s FOMC meeting during which the Fed Chair decided to cut interest rates by 25 bps, but also made some BTC remarks that triggered market turmoil.\nBitcoin Price Rebounds Following an Earlier Dip\nAt the moment of writing this article, BTC is trading above $101,600, down by 2% today.\nHowever, the digital asset’s price recorded a quick rebound to current levels following an earlier price drop close to $99,000.\n\n\n  BTC price in USD today\n \n\nBitcoin’s price drop came as the entire crypto market was rocked by liquidations in the past 24 hours.\n24-Hour Crypto Market Liquidations\nCoinglass data shows that the crypto market recorded over $779 million in liquidations, of which more than $659 million were in long positions and almost $120 million were in shorts.\nBitcoin recorded over $142 million in liquidations in the past 24 hours: $110.4 million in long positions and $32.3 million in short positions.\nIn a post on X, Santiment explained that after yesterday’s FOMC meeting, both crypto and equities traders were left concerned, not because of the current 25 bps rate cuts, but because of the Fed’s projections for 2025.\nWhen Santiment made the post this morning, the total crypto market cap was down by over 4% over the past week, according to their notes.\n\nCrypto liquidations came following yesterday’s FOMC meeting.\nFOMC Meeting Recap: Rate Cuts and BTC-Related Statements\n25 BPS Interest Rate Cut This Month, But Less Rate Cuts Projected for 2025\nDuring yesterday’s FOMC meeting, the Fed’s Chair, Jerome Powell revealed a 25 bps interest rate cut, as previously expected.\nHowever, he also addressed potential upcoming 2025 interest rate cuts as well, indicating that there will only be two rate reductions, next year, according to reports highlighted by CNBC.\nPrevious expectations in September were expecting four rate cuts for the next year.\nPowell also said that the central bank would be looking for progress on inflation, saying that the country has been moving sideways on 12-month inflation. He also said that consumers feel the effects of high prices, rather than the ones of high inflation.\nHe believes that the best solution for prices going up is to work on getting inflation down to its target, so wages can catch up and restore consumers’ “good feelings” about the economy.\nBitcoin-Related Statements\nPowell also addressed Bitcoin and said the central bank is not looking to add BTC to its balance sheet. He said that the Fed is not allowed to own BTC, according to the Federal Reserve Act, and they are not looking for a change. According to him, this is the kind of thing for Congress to consider.\nSpeaking of Congress, Elon Musk just shared a message via his X account, saying that no bills should pass Congress until January 20 when the Trump administration debuts.\nWhile the crypto market panicked that such statements coming from Powell translate into danger for setting up a Bitcoin Reserve in the US, some clarifications are needed.\nUS Bitcoin Reserve, Not Endangered\nAs Scott Melker, host of The Wolf of All Streets Podcast, highlighted via his X account, despite the fact that the Fed is not allowed to own Bitcoin, it’s important to note that it would be the US Treasury putting BTC on the balance sheet if BTC were made a reserve asset.\nThe US Treasury and the Federal Reserve are separate entities in the US.\nThe Treasury manages all the money coming into the government and that is paid out by it. On the other hand, the Federal Reserve’s primary responsibility is to keep the economy stable by managing the supply of money that’s in circulation.\nThe crypto market maintains optimism following yesterday’s liquidations, considering that recently, Trump confirmed the upcoming BTC reserve in the US, while global BTC and crypto adoption also continue to intensify.\nBesides the latest plans for BTC reserves in Russia and Japan, Europe seems to be making efforts in the same direction as well.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492146767"}