Key Takeaways
- The Federal Reserve left interest rates unchanged, citing persistent inflation and global risks.
- Bitcoin remained stable near $104,000, with a slight 0.66% daily decline and 64.05% market dominance.
- President Trump criticized Fed policy, calling for rate cuts as the Fed maintains focus on its 2% inflation target.
The Federal Reserve opted to leave its benchmark interest rate unchanged on June 18, maintaining the current target range of 4.25% to 4.5%.
The decision comes as the Fed continues to monitor persistent inflation and global uncertainties.
The Federal Open Market Committee cited continued job growth and moderate progress on inflation as primary reasons for pausing any rate adjustments.
Bitcoin market response
Bitcoin traded at $104,110, down 0.66% over the past 24 hours, but holding recent gains despite broader market volatility.
The global digital asset market cap edged up to $3.23 trillion, while Bitcoin’s dominance reached 64.05%.
At press time, Bitcoin ranked #1 by market capitalization at $2.07 trillion, with a 24-hour trading volume of $45.9 billion.
Political pressure and outlook
President Donald Trump renewed criticism of Fed Chair Jerome Powell, urging a two-point rate cut to boost investment and market support, especially as European central banks lower their rates.
Despite this, the Fed signaled its commitment to returning inflation to its 2% target, resisting political and external pressures.
Trump stated:
Lowering interest rates by two points would be a game changer for our economy.
Market sentiment
A CME Group survey showed traders assigned a 99.9% probability to the Fed maintaining current rates.
Rising oil prices and ongoing geopolitical tensions, particularly in the Middle East, remain key risks for both traditional and digital markets.
For more on Bitcoin market sentiment, see the fear and greed chart.
