FOMC maintains the benchmark federal funds rate at the current range between 4.25% and 4.50%.

Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace.

The Federal Open Market Committee (FOMC) members voted to keep the benchmark federal funds rate at the current range of 4.25% to 4.50%, the U.S. Federal Reserve announced Wednesday.

The committee also said it will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities.

At its last meeting in March, the FOMC said it would slow the pace of the decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion and maintaining the monthly redemption cap on agency debt and agency mortgage-backed securities at $35 billion.

The price of bitcoin (BTC) dropped below the $100,000 level in late February and has yet to reclaim it.

The world’s largest crypto was trading up slightly less than 1% over the last 24 hours at around $96,400 at the time of writing, according to The Block’s price data. Earlier in the day, bitcoin had traded up close to the $97,300 level.

“It’s a positioning regime defined more by caution than conviction, with the derivatives market reflecting structural trades rather than directional aggression,” Dr. Kirill Kretov, senior automation expert at CoinPanel, told The Block earlier Wednesday. “There’s little sign of hedging downside, nor are traders leaning too far into bullish risk-repricing.”

Meanwhile, K33 analysts declared a “hold in May and stay” mantra for the bitcoin market, saying that 2025 will be different from prior summer lulls.