The Fed held interest rates steady at 3.75%–4.00% at its October 28 meeting, with a 10–2 vote. Two members, Lisa Cook and Beth Hammack, opposed the decision, advocating for a 0.25 percentage point rate hike. The Fed stated that the U.S. economy continues to expand robustly, supported by steady domestic spending, rising productivity, and strong capital investment. Job growth has generally kept pace with labor force growth, while the unemployment rate has remained largely unchanged. However, inflation remains above the Fed’s 2% target. The central bank indicated it will continue to assess economic data, outlooks, and risk balances before determining its next steps on monetary policy. The fact that two officials favored a rate hike underscores lingering internal divisions within the Fed over how to address inflation. Maintaining rates does not signal a shift toward monetary easing. Bitcoin faces pressure from monetary policy outlook For the cryptocurrency market, persistently high interest rates may make riskier assets harder to attract new capital, as investors continue weighing opportunity costs and market liquidity prospects. Bitcoin (BTC) was the focal point following the Fed meeting. Investors will monitor price reactions, inflows into U.S.-based spot Bitcoin ETFs, and derivatives market activity to assess whether the world’s largest cryptocurrency has sufficient momentum for recovery. Beyond Bitcoin, Ethereum (ETH) and other altcoins may also be affected by shifts in interest rate expectations, risk appetite, and market liquidity. If high interest rate expectations persist, highly speculative assets typically face greater downward pressure. However, whether the Fed’s decision to hold rates was anticipated by markets—and the messaging around future meetings—will largely determine actual asset price reactions. Fed to vote on rates at seven policy meetings in 2027 According to information provided, Fed Chair Kevin Warsh stated that the central bank will conduct rate votes at seven of the eight scheduled policy meetings in 2027, reducing to six meetings in 2028. The remaining meetings will focus on broader monetary policy issues. This suggests that the policy discussion schedule may be adjusted in coming years. However, the number of rate-voting meetings does not indicate whether the Fed will raise or lower rates, nor does it imply reduced responsiveness to economic changes. In the short term, cryptocurrency markets must continue monitoring U.S. inflation data, labor market trends, bond yields, and further signals from the Fed. These factors will be critical in shaping liquidity expectations and Bitcoin’s trajectory through the end of the year.