The Federal Reserve has decided to maintain its current interest rate, noting that inflation remains significantly above the 2% target. The central bank highlighted that ongoing supply-side shocks, including rising energy costs, continue to push prices higher, adding to macroeconomic uncertainty.

Futures markets had already priced in roughly a 65% probability of a rate hold, so the decision was widely expected. This led to a muted reaction in the cryptocurrency market, with Bitcoin trading steadily around the $64,400 mark.

Data shows that Bitcoin has successfully reclaimed a critical support level at the 0.236 Fibonacci retracement, which sits just above the 50-day simple moving average. Together, these two technical indicators form a dense support zone, serving as a key line of defense for the current price structure.

In the hour leading up to the Fed's decision, other major cryptocurrencies rallied. Ethereum rose 1.5%, Ripple gained 1.5%, and Binance Coin edged up 0.3%.

The importance of this specific rate decision may be less significant than the subsequent forward guidance. If Fed Governor Christopher Waller signals a potential for further rate hikes or adopts a more hawkish stance on inflation, his comments could directly impact Bitcoin's price outlook.

Global liquidity conditions and investor risk appetite are now closely watching Japan's upcoming interest rate decisions. If any central bank delivers an unexpected policy move, Bitcoin's current support zone could face a much more severe test, prompting markets to remain vigilant about potential shifts in policy direction.