Bitcoin rose above $104K after Powell stayed silent on the economic outlook.
Traders are divided on rate cut chances despite a strong probability of no change in June.
Fed may delay cuts unless Trump’s proposed tariffs are rolled back, says Goolsbee.
Bitcoin increased slightly on Saturday after the U.S. Federal Reserve Chair Jerome Powell made a speech but remained silent about the economic direction of the country. BTC recovered from a low of $103,700 and remained above $104,000, with traders now waiting to see a surge towards $105,000.
Trump, Tariffs, and Rate Cuts
This was Powell’s initial public address since he met with President Donald Trump. While the Fed indicated that they didn’t talk about interest rates, the White House indicated that Trump encouraged Powell to lower the rates, terming the current policy as a “mistake”.
The market currently anticipates no rate moves at the June 17–18 Fed meeting with a 95.3% probability that rates remain at 4.25%
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