Bitcoin Stalls Near $64K as Fed Decision Fails to Spark Rally

Bitcoin hovered near the $64,000 mark on Thursday after the US Federal Reserve kept interest rates unchanged at 3.50%-3.75%. The world's largest cryptocurrency was trading at $64,062.

Over the past 24 hours, Bitcoin gained 0.26%, while Ethereum slipped 0.07% to $1,905.

A CoinSwitch Markets Desk analysis noted that BTC is struggling below the $64,000 mark, but futures open interest has climbed to a two-month high, indicating increased leveraged trading. Positive funding rates suggest many traders still expect prices to rise.

Vikram Subburaj, CEO of Giottus, said immediate support lies in the $63,200-$63,000 zone, followed by $62,000. Nischal Shetty, Founder of WazirX, noted that Bitcoin continues to trade in a tight range as markets balance macroeconomic uncertainty with improving regulatory clarity.