June 15 (Cointime) - US Federal Reserve Chair Jerome Powell announced on Wednesday that the central bank is committed to reducing the inflation rate to the 2% target. This statement was made during a press conference following the decision to pause interest rate hikes. The Bitcoin price showed a slight negative reaction to the central bank's stance, but this could be a precursor to a market rally.

Fed officials warned that the central bank may not be finished with raising interest rates, potentially benefiting Bitcoin as investors may prefer risky assets in the crypto market.