Bitcoin Surges to $85,880 After Fed Meeting, Eyes $90,000 Resistance

Bitcoin (BTC) experienced a significant surge, climbing nearly 4% in the last 24 hours and reaching a 10-day high of $85,880 following the Federal Reserve's recent meeting. On Wednesday, Bitcoin surpassed the $85,000 resistance after a 5% increase from the previous day's low. The Federal Reserve maintained its interest rate, setting the upper bound at 4.50%, in line with expectations. They also indicated a potential 50 basis point rate cut in 2025 and a reduction in the monthly Treasury redemption cap from $25 billion to $5 billion starting in April. Analysts suggest that overcoming the $84,000-$85,000 range could propel Bitcoin towards the $90,000 resistance level. As of today, Bitcoin is trading at $85,132, marking a 4.9% increase over the past week.