Bitcoin near $80.8K as Fed holds rates, two officials seek hike

The Federal Reserve has held its benchmark interest rate at 3.75%–4.00% on Oct. 28, with two officials favoring another quarter-point hike as Bitcoin trades near $80,800. The Fed kept rates at 3.75%–4.00% after September’s quarter-point hike. Two officials opposed the pause and voted for another 25-basis-point increase. Bitcoin traded near $80,800, while earlier analysis identified resistance above $81,400. September consumer inflation reached 3.7%, compared with 3.4% in August. The Federal Open Market Committee approved the decision by a 10–2 vote, according to its October statement, with Lisa Cook and Beth Hammack dissenting in favor of higher rates. Fed pauses after September’s unanimous rate hike In its statement released at 2 p.m. Eastern, the committee described economic growth as strong and said inflation remained elevated.

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