The Federal Reserve kept interest rates unchanged at 4.25% to 4.5%

The Federal Reserve kept interest rates unchanged at 4.25% to 4.5% during its latest meeting, as economists polled by Dow Jones expected. However, analysts are already predicting that the Fed may consider cutting interest rates in July or September if the economy shows signs of weakening.

Uninteresting economic data had little impact on the markets, which remained in a flat state. The main highlight was the news that China will resume talks with the U.S. over tariffs, a development that could lead to a thaw in relations between the two superpowers. Both economies have been hit hard by the tariff standoff, and the potential for a resolution is sure to be welcomed by market participants.

Bitcoin responded to this development with a sharp move upward on May 6, briefly tapping $97,000 as it surged toward the $100,000 mark.

Here are some of the biggest crypto stories to watch over the last 24 hours:

* Federal Reserve holds interest rates steady at 4.25% to 4.5%, keeping rates in the same range since March 2022.

* Uninteresting macroeconomic data had minimal impact on the markets, which remained flat despite the news that China will resume talks with the U.S. over tariffs.

* A key development saw New Hampshire become the first U.S. state to approve a Bitcoin strategic reserve in a historic move.

* Ethereum developers activated the long-awaited Pectra upgrade, two days earlier than expected. The upgrade, which includes 11 changes, is a major step toward a fully decentralized global system, according to Ethereum co-founder Joseph Lubin.

* Bitwise filed for a spot NEAR ETF, continuing the trend of top asset managers focusing on U.S.-based crypto assets.

* The SEC also requested more public comments on Canary Capital's proposed spot LTC ETF and deferred its decision, citing concerns over market manipulation.

The Federal Reserve has opted to keep interest rates unchanged at 4.25% to 4.5%, maintaining the same rate range since March 2022.

As the war in Ukraine continues to escalate and the global economy faces uncertainty, the Fed's decision to hold rates steady comes amid warnings from economists that a recession is possible later this year.

However, if the economy shows signs of weakening, analysts believe the Fed may consider cutting interest rates in July or September.

Uninteresting economic data had little impact on the markets, which remained in a flat state. The main highlight was the news that China’s Commerce Ministry confirmed that talks with the U.S. over tariffs will resume, a development that could lead to a thaw in relations between the two superpowers.

Both economies have been hit hard by the tariff standoff, and the potential for a resolution is sure to be welcomed by market participants.

In other news, New Hampshire has become the first U.S. state to approve a Bitcoin strategic reserve in a historic move. The bill (HB302), which was signed into law by Governor Chris Sununu, allows the state treasurer to purchase Bitcoin or any digital asset with a market cap over $500 billion—currently, only Bitcoin—for up to 5% of total state funds.

Earlier this year, the state Senate approved the bill with a 14-10 vote, while the House of Representatives passed it with a vote of 97-52. The bill’s passage comes despite opposition from the state's banking commission, which expressed concerns over the potential risks involved in investing in crypto.

Also in the news, Ethereum developers have activated the long-awaited Pectra upgrade, two days earlier than expected. The upgrade, which includes 11 changes such as improving user experience, validator operations, and Layer 2 scaling, is a major step toward a fully decentralized global system, according to Ethereum co-founder Joseph Lubin.

Despite the technical leap, the price of ETH remained largely unchanged, suggesting that traders are awaiting further developments before making any significant moves.

Top asset manager Bitwise has filed for a spot NEAR ETF, continuing the trend of top-tier firms focusing on U.S.-based crypto assets. The filing with the Securities and Exchange Commission (SEC) comes after the firm's previous application for a Bitcoin ETF was rejected by the SEC in 2021.

If approved, the NEAR ETF would allow investors to gain exposure to NEAR coin through a traditional investment vehicle, potentially increasing participation in the cryptocurrency market.

The application also comes amid increasing interest in Layer 1 blockchains like NEAR, which is known for its smart contract capabilities and interoperability solutions.

In other news, the SEC has requested more public comments on Canary Capital's proposed spot LTC ETF and deferred its decision. The regulator is seeking feedback on whether the applicant has demonstrated sufficient experience in managing investment funds and whether there are any material facts about the ETF that have