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Bitcoin and Ethereum slip after Fed holds rates at 3.5% to 3.75%
Bitcoin fell about 1% to around $63,890, while Ethereum dropped roughly 1% to just above $1,900 as the Fed provided no new rate projections until September.
The Federal Reserve held its benchmark federal funds rate at 3.5% to 3.75% on Wednesday, and both Bitcoin and Ethereum dipped shortly after the 2 p.m. ET announcement, according to Decrypt. No updated rate projections were released, with the next dot plot scheduled for September.
After the decision, Bitcoin fell about 1% to roughly $63,890. Ethereum declined by about 1% as well, trading for just above $1,900.
Decrypt noted the Fed has not changed rates since cutting by 25 basis points in December 2025, and that Chair Kevin Warsh has pledged to share less forward guidance than prior leaders, reducing the amount of information markets get about future moves.
The Fed said the economy is expanding at a solid pace, but inflation remains above its 2% target, citing price pressure partly tied to the situation in the Middle East and higher energy prices. Nearly half of FOMC members signaled in June they would support a rate hike before year-end, keeping the risk of tighter policy in focus for crypto markets, the outlet said.
Latest closeBitcoin $63,409.10 ▼0.7%|Ethereum $1,882.90 ▼1.9%