Bitcoin rose over 1.5% on Wednesday towards two-week highs amid a mounting positive sentiment as major corporations announce more bitcoin purchases.
Now global markets await the Federal Reserve’s policy meeting later today, expected to maintain interest rates unchanged for the second straight meeting.
The Price
Bitcoin rose 1.5% at Bitstamp to $84,075, with a session-low at $82,567.
On Tuesday, bitcoin lost 1.6%, the second loss in three days amid a renewed Wall Street selloff.
Crypto Market Value
The market value of cryptocurrencies rose by over $50 billion on Wednesday to a total of $2.835 trillion.,
Microstrategy
Through the X platform, Microstrategy CEO Micheal Saylor announced another purchase of 130 bitcoin units on Sunday, March 16th.
The company spent $10.8 million for the new purchases, averaging $82,981 per unit, with its total holdings now rising to 499,226 units, equivalent to $33.1 billion.
MetaPlanet
Japan’s MetaPlanet also expanded its holdings of bitcoin this week, acquiring 150 additional units at $12.5 million, with total company holdings now reaching 2200 units at a total value of $266.2 million.
The Fed
The Federal Reserve is wrapping up its second 2025 policy meeting, widely expected to hold interest rates unchanged.
The Fed will provide clues on the path ahead for US interest rates amid mounting economic risks, and especially Trump’s tariffs.
Data released last week showed US consumer prices slowed down more than expected in February, bolstering the case for a Fed rate cut in the first half of the year.
According to the Fedwatch tool, the odds of a Fed 0.25% rate cut in March stood at just 1%, while the odds of a May rate cut stood at 30%.
The odds of a Fed June 0.25% interest rate cut stood at 63%.
