Bitcoin stabilized near $64,000 after the Federal Reserve held interest rates steady at 3.50%-3.75%, a widely anticipated decision that still triggered sharp but short-lived swings. The cryptocurrency initially jumped to $64,600 before dropping to $63,200, finally settling in the middle of that range. The FOMC meeting delivered no surprises, yet BTC failed to establish a clear direction, reflecting a market still shaking off recent turbulence.
The rate announcement capped a volatile session that had already seen traders shift between relief buying and defensive positioning. Earlier in the day, Bitcoin briefly tested the $65,500 level, supported by easing Middle East tensions, but those gains faded quickly as investors reduced risk heading into the Fed decision. The broader macro backdrop also included Apple’s Q3 earnings, which had drawn market attention as a potential catalyst for risk assets.
Altcoins diverged during the post-meeting calm. Ether, XRP, Solana, and HYPE slipped by as much as 3%, while DOGE fell more than 1%. In contrast, UNI and BEAT posted gains of roughly 4%-5%. Bitcoin’s market cap stood near $1.28 trillion with dominance at 56.3%, indicating a fragmented market. Smaller tokens saw the most dramatic moves: PI extended its recovery by 6% to reclaim $0.08 after announcing a protocol update timeline, and Talus surged 20% daily and 600% monthly to enter the top 100. The action remained driven by project-specific news while BTC awaited stronger catalysts.
