Bitcoin was trading slightly higher on Wednesday after the Federal Reserve decided to keep interest rates unchanged. The leading cryptocurrency was priced at nearly $64,402 per coin, after rising nearly 1% in the hour following the announcement. As expected, the Fed left the federal funds rate in the 3.50%-3.75% range. The new Fed Chair, Kevin Warsh, emphasized the institution’s commitment to addressing the economic situation. Bitcoin has typically performed well in a low-interest rate environment, and crypto investors had been hoping the Fed would cut rates to boost digital assets, but sticky inflation continues to prevent any reduction.
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