Bitcoin's price has continued to rise, aiming to break the $70,000 barrier, following the United States Federal Reserve's decision to maintain interest rates unchanged. This move, contrary to expectations, has had a significant impact on the cryptocurrency's value.

Fed's Decision and Bitcoin's Response

The Federal Open Market Committee (FOMC) concluded that interest rates would remain between 5.25% and 5.50%. This decision, unlike those of other major central banks, did not involve a rate cut. The Bank of Canada and the European Central Bank had recently lowered their rates by 0.25%, while the Danish Central Bank also slashed its rate. Bitcoin's price responded to these changes with a volatile swing from $66,190 to $70,100. With the Federal Reserve maintaining its stance, Bitcoin's price is now maintaining its upward momentum, currently trading at $68,785.91, up 3.22% in the past 24 hours.

Market Volatility and Expectations

The trading volume of Bitcoin has decreased by 16.3% to $30,874,721,390. The 24-hour low is $66,902.46, and the highest peak is $69,977.89. The expectation is that the Federal Reserve's announcement will help boost the bullish momentum of Bitcoin, allowing it to retest the resistance level at $70,000.

Market Trends and Future Outlook

Bitcoin's price is highly responsive to general market trends. The reaction of the mainstream stock market may further shape its growth in the next few hours. Additionally, the impact of spot BTC ETFs may also play a crucial role in the future. After recording a 19-day net-inflow streak, the trend has shifted with a 2-day outflow streak fueled by Grayscale Investments' capital exodus. Overall, the growth prospects of Bitcoin are considered positive, with forecasts pegging its short-term price targets at $100,000.