Bitcoin Trades Near $80,800 After Federal Reserve Holds Rates at 3.75%-4.00%

Bitcoin traded near $80,800 on Wednesday after the Federal Reserve held its benchmark interest rate steady in the 3.75% to 4.00% range in a 10-2 vote. Federal Reserve officials Lisa Cook and Beth Hammack dissented, favoring a 25-basis-point increase. Following the policy announcement, Bitcoin experienced sharp volatility, briefly touching an intraday high of $81,687 before dropping below $80,500 and finding support above $80,000. The price fluctuations triggered over $167 million in total crypto market liquidations over a 24-hour period, led by $110 million in liquidated short positions.