Bitcoin, Altcoins Rebound After Fed Rate Call

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The US central bank left the rates unchaged for a fifth consecutive time.

Bitcoin’s price actions went through some volatility yesterday, especially after the conclusion of the latest FOMC meeting, but the asset has managed to recover the losses.

Most altcoins are also in the green today, with ETH climbing back toward $3,900 and ENA exploding by double digits once more.

BTC Recovers After FOMC Meeting
After the correction at the end of the previous business week, which drove BTC to a 14-day low of under $114,500, the primary cryptocurrency managed to recover most losses and even headed toward $120,000 at the beginning of the current one.

However, the resistance at that level turned out to be too strong for bitcoin’s current momentum, and the asset returned to around $118,000 yesterday ahead of the latest FOMC meeting for the year.

All eyes turned to the US central bank, especially after the country’s GDP report for Q2 was significantly higher than expected. However, the Fed refused to change the interest rates, which resulted in some volatility for BTC.


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