On Wednesday, Bitcoin surpassed the $64,000 mark, reflecting a 1% increase for the day, while the overall market remained positive in anticipation of the Federal Reserve's rate announcement scheduled for 2 p.m. ET, according to CoinDesk data. Ether saw a rise of 1.7%, reaching $1,909, while XRP led the major cryptocurrencies with a gain of 2.6%.
The prevailing expectation is that the Fed will maintain its current rate between 3.50% and 3.75%, marking a sixth consecutive meeting without a change, as indicated by CME data.
However, nearly 30% of traders are factoring in a potential quarter-point increase, a sentiment supported by notable financial firms. Citadel Securities informed its clients that it anticipates a surprise rate hike this week to bolster Warsh's credibility in combating inflation, and UBS also indicated that such a development would not be unexpected.