Overview

• The Federal Reserve held interest rates steady at 4.25%-4.50% and announced a slower pace of balance sheet reduction, signaling looser financial conditions.
• Bitcoin surged past $85,000, Ethereum exceeded $2,000, and Solana reached $134, contributing to a global cryptocurrency market cap of $2.91 trillion.
• Ripple's XRP token jumped nearly 10% after the SEC decided not to pursue further appeals in its legal case against Ripple Labs.
• U.S. stock markets, including the S&P 500 and Nasdaq, rose over 1% following the Federal Reserve's announcements and Chair Jerome Powell's comments.
• Analysts remain divided on the sustainability of the rally, citing inflationary pressures, geopolitical risks, and potential shifts in fiscal policy as key concerns.