Congressman Keith Self Moves To Block US CBDC Via Defense Bill Amendment

Bitcoin has stabilized above the $92,000 mark after a rebound from a dip towards $90,000, providing temporary relief for bulls. However, market sentiment remains largely bearish, with traders anticipating further declines unless a significant shift in momentum occurs ahead of the Federal Reserve's upcoming meeting.

The Federal Reserve's anticipated rate cut could potentially boost stock markets, yet Bitcoin options indicate a low probability of the cryptocurrency reaching $100,000 by January. Recent fluctuations in Bitcoin's price have been influenced by market sentiment surrounding the Fed's monetary policy decisions.

Bitcoin's price surged above $94,000 following a 25 basis point cut in the Federal Reserve's benchmark rate, which now stands at 3.50%–3.75%. This move aims to support job growth and address high inflation levels, reflecting a significant moment in the cryptocurrency market.

The Federal Reserve has announced a 25 basis points interest rate cut, lowering the rate range to 3.5% to 3.75%, which may indicate a bullish trend for Bitcoin and the cryptocurrency market. Economic adviser Kevin Hassett noted that there is potential for further rate cuts, suggesting a shift in monetary policy that could favor digital assets.

The Federal Reserve has approved a 0.25% rate cut amidst ongoing concerns regarding inflation and economic growth, which has implications for the cryptocurrency market, particularly Bitcoin, currently struggling to break the $100,000 barrier due to its 'fragile range' as highlighted by Glassnode data.

The Federal Reserve has reduced interest rates by 25 basis points, bringing the target range to 3.5%-3.75%. This decision comes as Bitcoin stabilizes around the $92,000 mark, following a period of volatility and market anticipation of the Fed's actions.

Bitcoin's price action is closely tied to the outcomes of the Federal Open Market Committee (FOMC) meetings, with recent fluctuations reflecting traders' uncertainty about interest rate decisions. As the FOMC meeting approaches, Bitcoin's price has shown volatility, dipping below $88,000 before rebounding to around $94,000, influenced by market sentiment regarding potential rate cuts.

Texas Representative Keith Self has introduced an amendment to the 2026 National Defense Authorization Act (NDAA) aimed at prohibiting a Federal Reserve-run Central Bank Digital Currency (CBDC), labeling it an 'Anti-CBDC Surveillance State' initiative. This move is seen as a test of GOP unity on digital dollar policy and a challenge to former President Trump's previous directives regarding cryptocurrency.