The US Federal Reserve maintained interest rates between 3.50% and 3.75% with a 9-3 vote. This July FOMC meeting was described as the most unpredictable since the COVID-19 pandemic began in March 2020, with futures markets assigning only a 30% to 38% probability to a rate hike. Bitcoin had dropped by $3,000 the day before, rebounded to $64,500, then slipped below $63,800 just before the announcement. Following the Fed’s decision, bitcoin climbed back above $64,000, with investors now awaiting remarks from new Fed Chair Kevin Warsh for further market direction.
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