Why did the #BTC rise today?

✅Why did the #BTC rise today?

1. FOMC rate freeze: 4.50%
   -Inflation “Slightly Up” but Admits Improvement Trends
   -less hawkish than expected
2. Powell’s remarks

• Fed Chair No Problem With U.S. Bank Crypto Services

1. Powell’s Background: SAB21 Accounting Regulations Abolished

• SAB21 (Staff Accounting Bulletin): accounting guidance issued by SEC. It was a regulation to deal with debt when holding cryptocurrency by banks, effectively blocking the U.S. bank cryptocurrency business.
• Trump + Newly Appointed SEC Leadership Dismisses SAB 121 Accounting Regulations on Jan. 23 → U.S. Bank Cryptocurrency Custody Services Available

1. Also Read: FDIC’s Possible Crypto Asset Insurance
   -FDIC (Federal Deposit Insurance Corporation): Deposit guarantees of up to $250,000 per depositor in case of bank bankruptcy
   -FDIC May Promote U.S. Institutional Investors’ Market Engagement When Stable Coin Insurance Is Applied