Cryptocurrency's reactions to macroeconomic conditions have become highly unpredictable. When ADP reported an unexpected increase in private sector layoffs, the crypto market rose by 2%. Recent price movements of BTC have become so non-intuitive that many trusted experts, like Custodia Bank CEO Caitlin Long, suspect price manipulation.

Read more: Even Andrew Tate Believes Bitcoin Whales are Manipulating Prices

And now, despite a pause, Bitcoin hardly moved after the announcement. In this defense of the cryptocurrency, the interest rate decision was made in the context of a somewhat divided Fed. While nine out of twelve Federal Open Market Committee (FOMC) members voted for the rate cut today, the group was divided on the future direction of interest rates; this led some to describe the decision as “hawkish.”

The central bank’s increasingly challenging dual mandate to ensure stable prices and maximum employment is expanding the range of solutions proposed by committee members. This divergence of views within the Fed makes it highly likely that there will be an uncertain outlook for Bitcoin’s future price.

“A persistent tension among all these tasks is very unusual, and this is what you see in such a case,” Powell explained in response to questions about the growing diversity of opinions within the FOMC. “I think that’s what you should expect to see.”