Fed Holds Rates as Dissenters Push for Hike Amid Bitcoin Rally

The Federal Open Market Committee approved the pause by a 10–2 vote, with Lisa Cook and Beth Hammack dissenting in favor of a quarter-point increase. This split follows a unanimous decision in September to raise rates, marking a shift toward internal disagreement as policymakers balance strong economic growth against elevated inflation. The committee described domestic spending as resilient and labor markets as stable, though they emphasized the need for further data to ensure inflation returns to their 2% target.

Financial markets remain sensitive to these signals, particularly as Bitcoin attempts to solidify its position above the $80,000 threshold. Technical analysts are watching the $81,400 level as a key recovery point, with support currently holding at $80,000. While Bitcoin has shown resilience, researchers like Tim Sun of HashKey Group warn that U.S. spot ETF flows and elevated derivatives leverage could introduce volatility. The broader economic backdrop remains strained, with September consumer inflation hitting 3.7%, driven largely by a 9.1% surge in gasoline prices, complicating the Fed’s path toward price stability.