Well, well, well! The Fed’s decision to keep rates unchanged didn’t exactly send bitcoin soaring, but it might just have President Trump throwing a tantrum. He called Fed Chairman Jerome Powell “stupid” earlier today for not slashing rates. Oh, the irony! 🙄
No Surprise, No Spike: BTC Just Chilling After Fed’s Decision
The U.S. Federal Reserve, in a move that surprised absolutely no one (yawn), decided to keep rates unchanged for the fourth time in a row. They cited elevated inflation and the economy’s uncertain future. Meanwhile, bitcoin ( BTC) just sat there, looking flat as a pancake, while stocks were busy climbing like they were on a sugar high.
And guess who’s not happy? Yep, our dear President Trump, who just hours before the announcement, called Powell “stupid” for not cutting rates. He also couldn’t resist bragging about some shiny employment data released today, claiming blue-collar workers saw a 1.7% wage growth—the biggest jump in nearly 60 years. Talk about a humble brag! 🙌
“Wow!!! U.S. Wage Growth BEST IN 60 YEARS!” Trump wrote on Truth Social. Because, of course, he’s the only one who can say it like it is! 😂
Bitcoin was on a rocket ship to $110K last week until Israel decided to throw a surprise party for Iran, causing the cryptocurrency to drop 2.8%. Now, BTC is just lounging around, and the Fed’s decision to keep rates in the 4.25-4.50% range didn’t exactly make waves. Meanwhile, the S&P 500, Nasdaq, and Dow were all like, “Look at us!” with increases of 0.30%, 0.41%, and 0.29% respectively. Go figure! 📈
“Inflation remains somewhat elevated,” the Fed stated, sounding like a broken record. “Uncertainty about the economic outlook has diminished but remains elevated…In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 4.25 to 4.5 percent.” Yawn! 😴
Overview of Market Metrics
Bitcoin is just treading water today, ticking up a measly 0.42% to $104,364.49 after trading between $103,646.41 and $105,581.85. But don’t get too excited—the weekly outlook is still bearish, with BTC down 4.25% from last week. Ouch! 😬
Trading activity has cooled off like a bad date, with the cryptocurrency’s 24-hour volume falling nearly 18% to $46.93 billion. Market capitalization, however, edged up by 0.61% to $2.07 trillion. BTC dominance crept up to 64.90%, a 0.13% gain, indicating bitcoin is still the prom queen of the crypto dance. 💃
In the derivatives markets, futures open interest fell by 2.54% to $69.13 billion, which is like saying traders are losing their nerve. Data from Coinglass shows a grim picture for bulls, with total liquidations hitting $46.36 million. Roughly $30.08 million of that was from long positions and $16.28 million from shorts. Yikes! 😱
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2025-06-18 22:57