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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

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Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Fed Holds Interest Rates, Trump’s Tariffs Rock Markets—But Bitcoin and XRP Defy Odds

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The post Fed Holds Interest Rates, Trump’s Tariffs Rock Markets—But Bitcoin and XRP Defy Odds appeared first on Coinpedia Fintech News

Despite a sharp market sell-off following the president’s tariff announcement, the Federal Reserve isn’t rushing to change course.

Fed Chair Jerome Powell, speaking at the Society for Advancing Business Editing and Writing Annual Conference, emphasized that the Fed is not yet ready to change interest rates. He noted that they are waiting for greater clarity before considering any adjustments to the policy stance and that it’s too soon to determine the right course of action for monetary policy.

Tariffs To Cause More Inflation

The fed noted that the economic impact of higher tariffs remains hard to predict due to ongoing uncertainties. Higher tariffs will likely cause bigger-than-expected inflation and slower growth. While the full impact is uncertain, the key is keeping long-term inflation expectations stable. Their goal is to ensure that any one-time price increases don’t evolve into persistent inflation.

Trump’s tariffs hit harder than expected, sparking a global stock sell-off. JPMorgan now sees a 60% chance of a global recession if the tariffs stay.

Bitcoin (BTC) slipped back below $83,000, staying flat over the past 24 hours, despite hopes for a more dovish stance from Powell. However it’s performing better than stocks, with the Nasdaq down 4.2% after a 6% drop yesterday.

Trump Urges Powell to Cut Rates

Just before Powell’s speech, Trump criticized him on Truth Social, saying that It’s the perfect time for Powell to lower interest rates. He noted that while he is usually slow to act, but he can change that now. “Cut interest rates Jerome, and stop playing politics,” he said.

Meanwhile, Bloomberg analyst James Seyffart was surprised by Bitcoin’s strength, noting that it stayed above $80,000 despite a sell-off in risk assets and a drop in gold. Blockstream founder Adam Back added that he has always believed Bitcoin’s connection to traditional markets was artificial. While Bitcoin’s past correlation with traditional markets might have been artificially driven, but now it’s acting on its own.

XRP Surges, Bitcoin’s Momentum Crucial 

Besides, XRP also surged 12% in just two days, hitting $2.12, fueled by fresh buying pressure and China’s new tariffs on the U.S., which added market volatility. The rally aligns with bullish signals like the MACD crossover and a rebound from $1.98, with $2.28 resistance in sight. If Bitcoin’s momentum holds, XRP could push toward $2.58.

Bitcoin is currently trading at $83,810, up over 0.7% in the past day.

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