In a topsy-turvy day in the market yesterday, Bitcoin after soaring to $70k on lesser-than-expected CPI data, fell back to the $67k level after the US Federal Reserve decided to keep interest rates unchanged and also projected only one rate cut in 2024. BTC first rose sharply in a few minutes to $70k in the evening, but a hawkish stance from the Fed chair in the evening erased all gains before the end of the day.
On the upside, presidential candidate Donald Trump said that he wants all the remaining bitcoin to be made in the US as it would help the country remain energy-dominant. Bitcoin mining stocks gained more than 10% on this promise as people expect Trump to be elected president in November.
