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Bitcoin wavers near $64,000 after Fed holds rates with a hawkish tone
The Federal Reserve kept rates at 3.5% to 3.75% for a fifth straight meeting in a 9-3 vote, while three policymakers dissented and Chair Kevin Warsh said there is no soft inflation target.
CoinDesk reports bitcoin stayed near $64,000 through the Fed decision and Chair Kevin Warsh's press conference, even as stocks slid and Treasury yields rose. The Federal Open Market Committee held interest rates at 3.5% to 3.75% for a fifth consecutive meeting, but the decision came with a 9-3 vote and a hawkish tone that some analysts said could be the least favorable setup for digital assets this cycle. CoinDesk notes Andrei Grachev, managing partner at DWF Labs, argued the hawkish hold signals the Fed would not tolerate inflation above target even at the cost of a growth scare. He said tighter policy and less liquidity could raise the cost of carry, pressuring leveraged and carry-funded crypto positions, and he expected institutional positioning to shift defensively immediately. Other views diverge, with CoinDesk citing an alternative take from Can-Luca Köymen of Sygnum Bank, who said he had already priced in the hawkish hold, implying the market impact could be different for bitcoin going forward.
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