Bitcoin new update

 Bitcoin prices hit two-week highs as markets bet heavily on Trump's crypto news

  Bitcoin is getting some much-needed relief thanks to confirmation of Federal Reserve policy and rumors of a "major update" on US cryptocurrency plans.

March 20, Bitcoin

  BTC

  ) hit a two-week high on rumors that the US government is preparing a "major update" to its cryptocurrency policy.

  BTC/USD 4-hour chart: Cointelegraph/TradingView

  Fed Chairman Powell breathes energy into stocks and cryptocurrencies

  Data from Cointelegraph Markets Pro and TradingView show that BTC/USD is trading at around $87,500 on Bitstamp.

  Currently, Bitcoin is stabilizing around $86,000, benefiting from a dovish Federal Reserve meeting a day earlier, with officials opting to keep interest rates at current levels.

  With Fed Chairman Jerome Powell stating that inflation had "declined significantly," policymakers confirmed that they anticipate two interest rate cuts by the end of 2025.  "We are in no rush to adjust our policy stance, and we are fully capable of waiting for clear results," he said in his opening remarks before a press conference after the interest rate decision.

  A "wait-and-see" attitude was enough to quell risk-asset worries, and U.S. stocks rose along with Bitcoin, eventually closing the S&P 500 up nearly 1% on March 20, adding $500 billion in market capitalization.

  The Federal Reserve has sent traders important signals to increase risk, according to Arthur Hayes, the former CEO of cryptocurrency exchange BitMEX.  "JAYPOW cashed in and QT essentially ended on April 1.  After that, all we need to do is drop SLR or restart QE," he wrote in a post with X Features, referring to the authorities' rotation from quantitative tightening to quantitative easing.

Is BTC's low point $77k? However, Jay may not fully embrace Team Trump until the Stonemans are in a lot of pain, so be flexible and deliver.  Bitcoin traders keep an eye on US cryptocurrency announcements.

  However, there are rumors that the United States may make an announcement on March 21. As a result, Bitcoin traders are more concerned about changes in the US cryptocurrency stance.  Related Reports Bitcoin Futures "Delivering" Wipes $10 Billion in Open Interest in Two Weeks

  "This will be its first major update since establishing a national cryptocurrency reserve on March 6," trade resource The Cubic Letter concluded in an X-Post.

  "There are rumors that President Trump may make significant changes in his strategy."

  When Trump signed an executive order earlier this month to establish a strategic reserve of bitcoin, markets were surprisingly calm amid news that the plan did not necessarily include the purchase of US bitcoin.

  However, the market quickly returned to optimism as Bitcoin's latest daily close broke above a key resistance trend line.

  "Bitcoin only needs another +8% rebound to regain the upper range and end this downward divergence," popular trader and analyst Rekt Capital said in a report.

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