Bitcoin has crossed the $64,000 threshold, registering a 1% gain on Wednesday, as traders await the Federal Reserve's rate decision set for 2 p.m. ET. The overall cryptocurrency market remained upbeat, with Ether climbing 1.7% to $1,909 and XRP leading the major coins with a 2.6% increase.
Market analysts largely predict that the Fed will keep interest rates steady in the range of 3.50% to 3.75%, marking the sixth consecutive meeting without a change, according to data from CME. However, nearly 30% of traders are anticipating a possible quarter-point hike, a view supported by prominent financial institutions. Citadel Securities has noted that a surprise increase could be on the table to enhance Warsh's standing in the fight against inflation, a sentiment echoed by UBS, which suggested that such an outcome would not be surprising.
