Cryptocurrency News LIVE Updates: Bitcoin Price Flux Near $42K, Fed Decides No Rate Cuts

Cryptocurrency News LIVE Updates: Bitcoin, the world’s first-ever digital currency, once again curated a tidal wave of speculations across the broader crypto market on Thursday as the token briefly slipped below the $42 mark. As of press time, the token noted a 2.10% plunge over the past 24 hours and is currently trading at $42,025, whereas, the price continuously moved to and fro the $42K mark today, birthing additional inferences among crypto market enthusiasts. Meanwhile, top altcoins like Ethereum, XRP, and Solana noted a 2%-7% drop, nabbing significant attention across the crypto market.

On the other hand, Federal Reserve Chair James Powell spotlighted the Fed’s decision to keep the interest rates unchanged till the next FOMC meeting. Powell stated that the current inflation is too high when compared to the 2% target rate set by the central bank. Aligning with this, the Federal Reserve ruled out the decision to keep the benchmark rate in the 5.25%-5.50% range, echoing a wave of frenzy across the U.S.

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