Bitcoin and US stocks rose on Wednesday as investors digested comments from Federal Reserve Chairman Jerome Powell after the central bank held interest rates steady at its latest policy meeting.

The S&P 500 rose about 0.9%, while the Dow Jones Industrial Average and Nasdaq Composite both jumped more than 1%. Shares rose significantly after Powell said “the next policy move is unlikely to be a raise.”

Cryptocurrency Market Now

After a drop near $56,600, Bitcoin price struggled to overcome the $59,500 resistance. BTC is currently trading at $58,300 down 3%. Likewise, most major altcoins are attempting a recovery.

ETH gained momentum above the $3,000 level and is now priced at $2,975.35. XRP is now consolidating gains above the $0.50 level. ADA is heading towards the $0.46 level. Solana is quoted at US$133.06 with a 7% increase.