The U.S. Federal Reserve has kept its benchmark interest rate steady but reaffirmed its hawkish stance, leading Bitcoin to trade in a narrow range around $63,000.
As of 8 a.m. on July 30, Bitcoin was trading at $63,862, down 0.20% from the previous day, according to global cryptocurrency market site CoinMarketCap.
Major altcoins showed mixed performance. At the same time, Ethereum fell 0.34% to $1,904.77, and Solana dropped 0.19% to $73.53. Conversely, Binance Coin rose 0.31% to $570.33, while Ripple increased by 0.85% to $1.07.
Market analysts suggest that the Fed's reaffirmation of its hawkish stance has dampened investor sentiment towards risk assets.
On July 29, the Federal Open Market Committee met and decided to maintain the interest rate at 3.50% to 3.75% annually. However, three members voted against the decision, advocating for a rate hike, which reinforced perceptions of the Fed's hawkish approach.
Concerns about persistent inflation have grown, pushing the yield on 30-year U.S. Treasury bonds up to 5.21%, the highest level since July 2007.
Meanwhile, on the domestic exchange Bithumb, Bitcoin was trading at 91,629,000 won ($63,367), down 0.56% from the previous day. The 'Kimchi Premium' was recorded at -0.746%, indicating that Bitcoin prices in South Korea are lower than those overseas.
* This article has been translated by AI.
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