Fed Rate Pause Sends Mixed Signals: Crypto Markets Hold Breath

The U.S. Federal Reserve kept interest rates steady at 3.50%-3.75% for the fifth time, causing mixed signals across traditional and crypto markets.

Nine members of the Federal Open Market Committee (FOMC) voted in favor of the rate pause, while three dissented and advocated for a 0.25% increase.

The Fed cited elevated uncertainty due to the Middle East conflict as a reason for inflation staying above the 2% target.

Despite this, Bitcoin showed resilience, initially rallying to $64.7K before dropping to $63.2K and then recovering to $64K by the end of the trading session.