Bitcoin Stable at $64,000 Amid Exchange Collapses

The Federal Reserve's decision to keep interest rates unchanged has provided support for Bitcoin, maintaining its range-bound trend. Over the past 24 hours, Bitcoin's price fluctuated by less than 1%, trading in a narrow range around $64,000.

Bitcoin's stability comes as the crypto market faces turmoil due to the collapse of cryptocurrency exchanges. BitMart is facing withdrawal difficulties, with users posting for help on social media platform X. The exchange had previously attracted users through stablecoin wealth management products, but withdrawal channels have been shut down one after another.

The closures of BitMEX and BitMart mark a transition in the cryptocurrency market from an early stage of high-leverage retail speculation to a new order of top-tier compliant platforms, on-chain decentralized finance (DeFi), and institutional ETFs. However, it has also dealt a heavy blow to the market's bullish confidence.