Bitcoin edged modestly higher on Wednesday following the Federal Reserve’s decision to hold interest rates steady.
The cryptocurrency reached nearly $64,402 per coin, rising almost 1% in the hour after the announcement.
The U.S. central bank kept the federal funds rate within the 3.50%–3.75% range, as widely anticipated. Three of the 12 Federal Open Market Committee members advocated for a quarter-point increase at the meeting.
Fed Chair Kevin Warsh offered few specifics about future policy direction in his post-announcement press remarks.
“The Fed is on the case,” he stated. “I have been encouraged by the response I’ve received. We remain fully committed to delivering on our mandate.”
He described the July rate decision as “a rigorous review of the economic situation.”
“I would not describe our actions as a pause,” he said. “I would characterize them as a rigorous review of the economic situation—a review of the big, hard questions.”
Warsh, who assumed the helm in May, has repeatedly expressed “no tolerance” for inflation that has persisted above the central bank’s target for over five years.
Bitcoin has historically thrived in low-rate environments, and crypto investors had been betting on a rate cut to buoy digital assets.
President Donald Trump has advocated for lower rates since taking office and clashed with former Fed Chair Jerome Powell on the issue.
For now, Warsh appears unlikely to pursue that path, as persistent inflation remains a concern for Americans.
The Federal Reserve began aggressively raising rates in 2022 to combat 40-year-high inflation triggered by the COVID-19 pandemic, and the tightening cycle weighed on Bitcoin.
The central bank then cut rates multiple times in 2024, but has been reluctant to reduce them since the end of 2025.