Fed Stands Pat, But What's Next for Bitcoin?

The Federal Reserve held its benchmark rate at 3.50% to 3.75%, in a 9-3 vote, with three policymakers, Beth Hammack, Neel Kashkari, and Lorie Logan, preferring a quarter-point increase.

This is the first time since September 2016 that three policymakers have dissented in the same direction.

Bitcoin briefly traded above $64,000 after the decision, then slipped back to around $63,600 before reclaiming $64,000 overnight.

The current price range for Bitcoin is between $62,000 and $68,000, a cluster identified by on-chain analytics firm Glassnode as most important for the current cycle.