Bitcoin experienced a notable surge following Federal Reserve Chair Jerome Powell's remarks during the Federal Open Market Committee (FOMC) meeting on January 29, 2025. The Fed decided to maintain interest rates at 4.25% to 4.5%, which was well-received by traders. Powell's comments on cryptocurrency regulation and the Fed's supportive stance towards crypto banking contributed to the positive market reaction. Bitcoin's price jumped to approximately $106,000, marking a significant recovery after Powell's statement. Other cryptocurrencies, including Ethereum and Solana, also saw gains, reflecting a broader bullish sentiment in the crypto market. The Fed's decision and Powell's remarks were interpreted as favorable for risk assets, bolstering investor confidence in the cryptocurrency sector.