Bitcoin climbs above $64,400 after the Fed holds rates steady
The Federal Reserve kept rates at 3.50%–3.75% on July 29 despite three votes for a hike. Bitcoin gained more than 1% as investors turned to Chair Kevin Warsh's policy outlook.
The Federal Reserve left its benchmark interest-rate range unchanged at 3.50%–3.75% on Wednesday, July 29, extending the pause for a sixth consecutive meeting. The decision removed the immediate risk of a rate increase after futures markets had assigned roughly 35% odds to a quarter-point hike.
Bitcoin moved above $64,400 following the announcement, gaining more than 1% over 24 hours, while U.S. stock indexes pared earlier losses. The reaction reflected relief that policy had not tightened further, although the Fed continued to describe inflation as elevated relative to its 2% goal.
The vote also showed how unsettled the outlook remains: three committee members preferred a 25-basis-point increase, while nine voted to hold. Markets are now focused on Chair Kevin Warsh's communication and what it could signal for the path of rates, liquidity and risk assets during the rest of 2026.