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Bitcoin holds steady after the Fed keeps interest rates unchanged

Bitcoin traded near $64,402 and rose about 1% in the hour after the Fed left the federal funds rate at 3.50% to 3.75%.

Reported · Written up by our desk · Bitcoin

Bitcoin showed only modest movement after the Federal Reserve decided to keep interest rates unchanged, with the cryptocurrency rising slightly following the announcement, according to Bitcoin Magazine.

Bitcoin was recently priced close to $64,402 per coin and moved up by nearly 1% in the hour after the Fed decision, despite uncertainty about the central bank’s next steps.

The Fed left the federal funds rate in the 3.50% to 3.75% range, with three of the 12 Federal Open Market Committee members preferring a quarter-percentage-point increase at the meeting.

Bitcoin Magazine noted that Fed Chair Kevin Warsh provided few signals about future direction, saying the decision reflected a rigorous review of the economic situation. The outlet added that Bitcoin has tended to perform better in low interest rate environments, while prior tightening in 2022 pressured the asset.

Latest closeBitcoin $63,834.07 ▼0.1%

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