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Bitcoin holds above $64,000 ahead of Fed rate decision

BTC was up 0.7% to about $64,328, while inflation near 4.1% keeps a rate increase on the table and markets showed a cautious hedging tone.

Reported · Written up by our desk · Market Structure

Bitcoin steadied above $64,000, rising 0.75% to $64,328 after two volatile days, as traders took a wait-and-see stance ahead of the Federal Reserve’s rate decision later Wednesday. The move came with the market split between expectations for policy tightening, and hopes the Fed could pause.

CoinDesk said inflation running at 4.1% supports the case for a fed funds target increase for the first time in three years. It also pointed to a pause in Iran-U.S. hostilities as a factor that eased oil prices, trimming some odds of a hike.

Elsewhere in crypto, Ether (ETH) was down 0.13% on the day. The broader tape was mixed, with the CoinDesk 20 Index up 0.41% since midnight UTC, as 10 members rose and 10 declined.

In DeFi and AI tokens, Jupiter (JUP) led with a 5.79% gain, while FET fell 4.60% since midnight UTC and 6.78% over 24 hours as AI tokens continued to unwind earlier gains. The report added that S&P 500 and Nasdaq 100 futures were fractionally positive, and gold stayed above $4,000 with silver up 1.40%, consistent with hedging rather than conviction.

Latest closeGold $4,023.80 ▼1.2%|Silver $57.33 ▼2.0%|Bitcoin $64,269.09 ▲0.6%

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