Fed: Banks able to serve crypto customers, BTC up 3%
Bitcoin bounced after comments from U.S. Federal Reserve Chair Jerome Powell at the FOMC meeting signaled that banks are allowed to serve crypto clients.
Crypto markets initially had a muted reaction to the Federal Open Market Committee’s decision on Wednesday, Jan. 29, to keep interest rates unchanged. The Fed maintained its 4.25% to 4.50% federal funds rate, citing “somewhat elevated inflation,” as analysts had predicted.
Bitcoin ( BTC ) edged up 0.5% minutes after the Fed released its FOMC minutes. The uptrend accelerated to 3%, pushing BTC above $103,500 heading into the U.S. evening trading session.
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