Bitcoin Stabilizes Ahead of Pivotal Fed Rate Decision

Bitcoin held steady near $64,000 on Wednesday as crypto traders braced for the Federal Reserve's interest rate decision. The cryptocurrency moved up a modest $13.14, or roughly 0.02%, to trade at $63,860.26 by afternoon.

The market settled into a holding pattern ahead of the Fed announcement, which has been described as unusually difficult to predict. Some analysts have characterized the meeting as among the hardest Fed decisions to forecast in recent years, given the unusual combination of economic signals policymakers are currently weighing.

Ethereum, the second-largest cryptocurrency by market value, moved somewhat more sharply than bitcoin during the same period. It opened at $1,919.73 and slipped back to $1,904.82 by mid-morning.