Fed Leaves Rates Unchanged: Bitcoin Fights to Hold $64,000

The Fed said, “Inflation remains elevated relative to the Committee’s 2 percent goal,” adding that supply shocks, including higher energy costs, continue to push prices higher.

The statement also said economic activity continues to expand at a solid pace and unemployment has changed little despite uncertainty partly linked to the Middle East conflict, supporting the Fed’s cautious stance.

The hold was far from unanimous. The FOMC approved it by a 9-3 vote, with Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan all preferring a quarter-point rate increase. The unusually hawkish split shows that pressure for tighter policy is building inside the central bank, making Chair Kevin Warsh’s comments particularly important for Bitcoin and the wider crypto market.

For crypto, the hold avoided an immediate tightening shock, but the three votes for a hike limit any dovish interpretation and keep near-term liquidity expectations cautious.

With futures markets assigning over 60% probability to a hold before the announcement, muc...