• The Federal Reserve announced it would keep rates steady at 5.25%-5.5%.
• Bitcoin and the entire crypto market experienced a slight downturn after the announcement.
• Donald Trump begins selling limited edition Bitcoin-themed sneakers.

Bitcoin (BTC) is trading around $64,770, down over 2% in the past 24 hours after the Federal Reserve announced it would hold rates steady.

Bitcoin reacts as Fed reveals rates decision

The Federal Reserve announced it would leave rates unchanged at 5.25%-5.5%, according to market expectations. The news led to Bitcoin and the crypto market experiencing a slight downturn. However, most market participants expect the SEC to cut rates as Q3 approaches a close.

A potential interest rate cut by the Federal Reserve later this year could be a positive factor for risk assets like Bitcoin. Historically, lower interest rate environments have been favorable for cryptocurrencies, as investors tend to seek higher-yielding assets.