"The Bitcoin price surged early Wednesday, reclaiming the $90,000 level as traders digested fresh macro signals and growing momentum around U.S. crypto regulation. The move followed a sharp reversal from weekend lows near $86,000, with the bitcoin price climbing to highs of $90,361 into the day, according to Bitcoin Magazine Pro data. All this is happening as the market braced for the Federal Reserve's first rate decision of the year later today, with futures pricing in an almost certain hold on rates Wednesday."
"With unemployment at 4.4%, traders are focused less on inflation and more on whether Chair Jerome Powell signals concern about labor market softness. If Powell leans into job market resilience and pushes back against near-term rate cuts, a "neutral" Fed meeting could quickly turn bearish for crypto. Gold continues to surge to new all-time high above $5,300 per ounce, underscoring renewed demand for hard assets amid rising currency uncertainty."
Bitcoin reversed weekend lows near $86,000 and climbed to intraday highs around $90,361 as traders reacted to macro signals and growing momentum on U.S. crypto regulation. Markets awaited the Federal Reserve's first rate decision of the year, with futures pricing in an almost certain hold, and traders focused on labor-market signals amid 4.4% unemployment. If Chair Jerome Powell emphasizes job-market resilience and resists near-term rate cuts, sentiment could turn bearish for crypto. Gold reached a new all-time high above $5,300 per ounce, reflecting demand for hard assets amid rising currency uncertainty. A Senate Agriculture Committee vote on a crypto market-structure bill is scheduled Thursday.
Read at Bitcoin Magazine
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