Jerome Powell Has Spoken. Bitcoin Can Resume Its Path Towards a Test of Resistance at $31.7K.

What's Next for Bitcoin Price?

The long-awaited third Fed FOMC Meeting of 2023 delivered its verdict yesterday, May 3, 2023.

As almost 100% of market participants had anticipated, the Fed announced another rate hike. This 25 basis point rate hike is the 10th in a row in just over a year.

The Fed's key rates are now in the range of 5-5.25%:

Source: CNBC

This is the first time since July 2…