Bitcoin’s Rollercoaster: Fasten Your Seatbelts for the Latest Drama!

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What to know:

  • Hold onto your wallets, folks! Crypto is feeling chipper again because the Fed decided to keep interest rates where they are—4.25% to 4.50%. Phew, what a relief!
  • And guess what? Bitcoin has suddenly decided to gain a whopping 4.5% in just 24 hours! That’s right, it’s now cozying up at $85,500—its highest since… oh, March 9. Remarkable!
  • Meanwhile, XRP is stealing the show with a 10% jump, thanks to the SEC deciding it’s too busy to appeal their lawsuit against Ripple. Way to go, SEC! 🙄

Our dear crypto markets are bouncing back a bit after the recent cozy chat with the Federal Open Market Committee (FOMC), where everyone agreed that keeping rates steady was a good idea. Because why not add a little suspense to our financial lives?

Bitcoin is back and feeling sassy at $85,500, hopping up 4.5% in the last 24 hours. What a diva! 💁‍♀️

The CoinDesk 20 (sounds fancy, right?!) is up by 6%! Ether and Solana followed suit, drinking the same magic juice, both leaping by 7%. And let’s not forget Ripple’s XRP token, which has decided to party with a splendid 10% increase after their CEO dropped a bombshell about the SEC case.

Crypto stocks are also riding the wave! Bitdeer and Core Scientific are flexing their muscles with bumps of 10% and 8% respectively. Bitdeer is likely strutting its stuff after some advancements in its gadget-making process, and Tether’s plump new investment in it—so much excitement! 🤑

Core Scientific might just be sipping on the sweet nectar of AI success, thanks to its buddy CoreWeave eyeing an IPO. But, hold your horses, both companies are still down over 61% and 53% from their glory days. Talk about a rollercoaster! 🎢

Jerome Powell, the Fed’s head honcho, claimed inflation from tariffs is just a fleeting moment in time. Cue the collective gasp of disbelief from economists across the globe! “Transitory,” he says! Who knew we’d be tossing around that word again? 🙃

Meanwhile, Gold is strutting around, crossing the $3,000 street with a new record, now comfortably resting above $3,050. Checkmate, everyone else!

Callie Cox from Ritholtz Wealth Management summed it up perfectly—steering this ship is getting trickier, and she suggests that the Fed isn’t going to show us a happy ending anytime soon. Spoiler alert: soft landing might just be a myth!

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2025-03-19 23:52