Fed holds rates at 3.5%–3.75% as Powell speech awaited; Bitcoin trades near $74,264

The U.S. Federal Reserve began its two-day FOMC meeting on March 17, with Chair Jerome Powell scheduled to speak at 2:30 p.m. ET after the rate decision, while crypto markets watch for guidance on future rate cuts. CME FedWatch tool data show a 99% probability that the policy rate will remain at 3.5%–3.75%. Recent data show the unemployment rate rose to 4.4% from 4.3%, the economy shed about 92,000 jobs in February, and oil prices remain near $100 per barrel, underscoring ongoing inflation risks. Bitcoin is trading around $74,264 after pulling back from a recent high of $76,000, and analysts note that a lack of clear rate cut signals from Powell could keep near-term pressure on Bitcoin and other cryptocurrencies.