Bitcoin Price Edges Up Amid Fed Concerns and Middle East Tensions

The Bitcoin price rose slightly on Thursday, but remained under pressure as investors stayed cautious following signals from the Federal Reserve and rising tensions in the Middle East.

The world's largest cryptocurrency gained 0.5% to trade at $64,947.8 by 09:08 ET.

This small increase came as broader cryptocurrency markets moved mostly sideways, with investors continuing to avoid risky assets after the Federal Reserve maintained a tough stance on inflation.

The central bank kept interest rates unchanged on Wednesday, but three Fed officials supported a rate hike due to concerns that inflation could remain high.