Bitcoin (BTC) has crossed the $104,000 mark after the recent FOMC meeting, where the Fed decided to maintain interest rates. The market reacted strongly, with Bitcoin witnessing a 2.8% increase, while other cryptos like Ether and XRP saw minimal changes as traders processed the Fed’s signals.

While Bitcoin’s current trajectory raises eyebrows, it faces skepticism from some market analysts. A notable comment stated that for the first time in its 16-year history, Bitcoin’s growth has fallen below 100% year over year.

“For the first time ever in Bitcoin’s history, the epoch-over-epoch (EOE) growth has fallen below +100%. Pack it up, fellas.” — Wicked (@w_s_bitcoin)

Powell Addresses Crypto Regulation at FOMC

During the meeting, Fed Chair Jerome Powell emphasized that banks are equipped to handle crypto customers as long as they mitigate the associated risks, highlighting the need for a more robust regulatory framework from Congress. He stated, “A greater regulatory apparatus around crypto from Congress would be very constructive.”

With ongoing expectations surrounding regulatory changes under a potential second Trump administration, Bitcoin has observed a considerable rise since his election win.

Tesla’s Bitcoin Windfall Affects TSLA Stock

Tesla reported a significant financial boost due to its Bitcoin holdings, showing a $600 million profit on its investments. Amidst changing accounting regulations, Tesla can now report the market value of its crypto assets quarterly.

Final Thought: What Lies Ahead for Bitcoin?

As Bitcoin navigates through a fluctuating market landscape influenced by regulatory shifts and institutional adoption, its future remains uncertain yet promising.