Bitcoin Holds Steady Ahead of Federal Reserve Decision

Bitcoin's price remained steady on Wednesday as investors held back from making major moves ahead of the U.S. Federal Reserve's policy announcement.

The cryptocurrency was trading around $64,220.5, up nearly 1.8% during early U.S. trading hours.

This stability came despite a fresh selloff in artificial intelligence and technology stocks, which saw declines in companies like AI-focused chip makers.

Investors are closely watching the Federal Reserve's decision on interest rates, with a 68% chance of keeping them unchanged and a 32% possibility of a 25 basis point rate hike.

A higher interest rate could put pressure on risky assets like cryptocurrencies, while a softer message from the Fed could support Bitcoin and other digital currencies.