OG coin even managed to finish Wednesday’s session in the green after recouping its session losses.

💪 Bitcoin Prices Steady

• Bitcoin prices BTCUSD were treading water early Thursday — expensive water nonetheless — after the Federal Reserve on Wednesday said interest rates won’t be going lower now and even raised its inflation expectations.
• The price of the orange coin initially slipped to $103,000 a piece, from a session high of $105,500, but then shifted gears and locked in a daily pop — a modest 0.2% to $104,900.
• The Fed’s message? “Everyone that I know is forecasting a meaningful increase in inflation in coming months from tariffs because someone has to pay for the tariffs,” Fed chief Powell said at his press conference.

🎯 GENIUS Bill Paves Way

• Stocks retreated with just the Nasdaq Composite surviving to see another day in the green. The US dollar marched to the upside as higher rates for longer help sustain its ability to yield handsome returns.
• Why did Bitcoin, then, power higher when crypto assets are notoriously sensitive to interest rate shifts and monetary policy expectations? What’s happening in Washington might be the reason why.
• The US Senate just passed the GENIUS bill — the crypto industry’s first major legislation that paves the way for stablecoins to enter the mainstream arena and rub shoulders with fiat currencies across banks, fintechs, and retailers.

👀 What It Means for Bitcoin

• “The GENIUS Act will protect consumers, enable responsible innovation, and safeguard the dominance of the US dollar,” said Sen. Kirsten Gillibrand, D-N.Y., a key backer of the bill, in a statement.
• While technically the new legislation doesn’t say anything about Bitcoin entering the business domain through a federal framework, Bitcoin maxis consider this win their own, too.
• If that bill passes through the Republican-held House, it will allow businesses to operate their own stablecoin and integrate it into their payment systems. Did Amazon AMZN just enter the chat?