Archive: Satheesh Sankaran, CC BY 2.0.
Bitcoin ticked higher Wednesday morning, holding comfortably above $80,000, as cryptocurrency traders looked ahead to the Federal Reserve’s interest-rate decision at 2 p.m. Eastern.
Bitcoin changed hands at $80,779 on Coinbase’s exchange at 8:32 a.m. Eastern, up about 0.7% over the previous 24 hours, after trading between $79,744 and $81,694 in that span, according to Coinbase’s price data. Ether, the second-largest cryptocurrency, traded at $2,345, up about 0.6%.
The move extended a quiet stretch for bitcoin, which has held near $80,000 since sliding from about $84,900 on October 21.
The Fed’s October meeting calendar lists the rate decision for 2 p.m. Eastern, followed by a press conference at 2:30 p.m. Crypto prices often track interest-rate expectations, since lower rates tend to draw investors toward riskier assets.
JBizNews Desk | New York
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