Daily View

As widely expected, the Federal Reserve maintained the federal funds rate at 4.25%–4.5%. Despite that, the latest dot plot still projects two rate cuts later this year. In addition, the Fed announced a further reduction in quantitative tightening, lowering the monthly roll-off of maturing treasuries to $5 billion from $25 billion—a move that could be seen as easing liquidity concerns. Markets reacted positively to the news, with the S&P 500 closing 1% higher, while Bitcoin surged over 3% to $86,000 as the crypto market followed suit.

CoinEx Daily: Markets Cheer Fed Decision