Despite the U.S. Federal Reserve (Fed) holding its benchmark rate steady, prices of virtual assets including Bitcoin rose across the board, holding the $64,000 support level.
According to the global virtual asset market site CoinMarketCap on the 31st, as of 8:29 a.m. that day, Bitcoin was trading at $64,848, up 1.42% from 24 hours earlier. Ethereum, the No. 2 by market cap, was trading up 0.97% at $1,925. Ripple (XRP) was up 1.49% at $1.08, and Solana was trading up 1.47% at $74.62.
The Fed kept the benchmark rate at 3.5%–3.75%. It was the fifth straight hold since Jan. Three of the 12 Fed Commissioners favored a 0.25 percentage point hike. The rate gap with Korea (2.75% annually) is 0.75–1.00 percentage point (p).
Fed Chair Kevin Warsh said on the 30th, "High inflation over the past five years left the wrong impression that the Fed's implicit inflation target is higher than 2%," adding, "There is no relaxed inflation target."