Investors Hopes Ruined, BTC Reaction Disappoints FOMC Timing!

<p>&nbsp;"Remember the BTC price movement will be interesting during the FOMC, apparently it's boring."</p><p><br /></p><p>The price of cryptocurrency king Bitcoin (BTC) moved flat as the Federal Open Market Committee (FOMC) meeting on two mornings decided to maintain the current interest rate in the range of 5.25% to 5.50%.</p><p><br /></p><p>It is reported that the Federal Reserve (Fed) continues to maintain its position to balance employment figures and achieve its inflation target of 2%.</p><p><br /></p><p>As inflation remains high while the unemployment rate remains low, the Fed will also evaluate additional information in determining future interest rates and monetary policy actions they will take.</p><p><br /></p><p><br /></p><p>According to John Authers, Bloomberg's senior editor, BTC prices were found to fluctuate at the same level as investors in the crypto market considered the statement issued by Fed Chairman Jerome Powell to be hawkish.</p><p><br /></p><p>Powell, who is considering additional policy tightening to meet his inflation target, has sent BTC prices below $26,900 from $27,200 when he indicated he would do more rate hikes if the economy remains strong.</p><p><br /></p><p>Not only that, Powell also informed that the majority of Fed members believe another increase in interest rates will happen following the recent trend of inflation heading in a positive direction, where the readings of the last three months are very good.</p><p><br /></p><p>As of this writing, BTC price has plunged by 1.02% to $27,021 in the last 24 hours with a market cap of $526 billion but is still up 3.23% over the past week.</p>