BTC Struggles to Hold $115K Despite Dovish Fed Shift
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Key takeaways: Bitcoin is struggling to hold above $115,000 after the Fed’s 25-bps interest rate cut. The Fed signaled an additional 50 bps of possible cuts through 2025. Bitcoin futures open interest surged while spot volumes continued to decline. Bitcoin (BTC) is trying to steady its price above $115,000 after the United States Federal Reserve delivered a 25-basis point cut to interest rates, lowering the benchmark range to 4.0%–4.25%. The immediate crypto market reaction has been muted, with traders digesting the central bank’s cautious tone. BTC’s price briefly dipped below $115,000, and it is currently attempting to close above the hourly candle above the aforementioned level. Bitcoin one-hour chart. Source: Cointelegraph/TradingView The Federal Open Market Committee (FOMC) statement on Wednesday highlights that job gains have slowed, unemployment has edged higher and inflation remains somewhat elevated. Notably, the Fed acknowledged that downside risks to employment have risen, tilting the policy stance toward the dovish side. New projections suggest an additional 50 basis points of cuts are possible through 2025, underscoring the Fed’s growing concern over the balance of risks. While the FOMC emphasized a continued commitment to its 2% inflation target, the tone leaned more toward supporting growth and employment in the face of slowing momentum. One dissent came from newly appointed Fed Governor Stephen Miran, who favored a deeper half-point cut, reinforcing the perception that the central bank is preparing markets for a more accommodative path ahead. Despite the dovish implications, Bitcoin’s reaction has been sluggish, with price consolidation dominating over directional momentum. Traders appear cautious, weighing the Fed’s longer-term easing trajectory against lingering uncertainty in inflation dynamics and global markets. Related: Federal Reserve expected to slash rates today, here’s how it may impact crypto What’s next in short term for Bitcoin? Earlier, Cointelegraph reported that market analyst Nic Puckrin…
