Fed Holds Rates at 3.5%-3.75% on April 29, Bitcoin Slides Below $75K

According to the Federal Reserve's official release, the central bank held its benchmark interest rate at 3.5% to 3.75% on April 29, as policymakers weighed inflation and economic uncertainty. The Federal Open Market Committee voted 8 to 4 to maintain rates steady, with dissenting votes from Stephen Miran, who sought a 25 basis point cut, and three officials opposing the statement's easing bias.

Bitcoin fell after the announcement as traders reacted to the divided vote. The token dropped from approximately $76,200 to around $75,000 in the first hour following the decision, then rebounded near $75,760 by Thursday, according to market data. The decline reflected investor concerns over delayed rate cuts and reduced appetite for risk assets.