Bitcoin price surged to $98,000 after the US Federal Reserve decided to maintain interest rates, defying pressure from President Donald Trump. Fed Chair Jerome Powell cited concerns about rising unemployment and inflation risks for keeping rates unchanged between 4.25% to 4.50%. Despite uncertainties, Powell highlighted the strong economic position. Bitcoin, which briefly dropped to $95,866 post-Powell’s speech, quickly rebounded to hit $98,000 for the first time since February. The Crypto Fear & Greed Index showed growing momentum, with spot Bitcoin ETFs seeing inflows of nearly $4.41 billion since March. Economist Timothy Peterson warned of a potential market downturn if the Fed delays rate cuts in 2025, possibly affecting Bitcoin’s price. Powell’s cautious approach to rate cuts has raised concerns about future market trends. It remains to be seen how these decisions will impact the crypto market and investors’ sentiment moving forward.