Key Takeaways
- The Fed held its target range at 3.75%–4.00% on October 28, 2026.
- The vote was 10–2, with Lisa Cook and Beth Hammack preferring a quarter-point hike.
- Futures markets priced a high chance of a December hike, a headwind for risk assets like Bitcoin.
The US Federal Reserve held the federal funds rate at 3.75%–4.00% on October 28, 2026, following a quarter-point increase at its September meeting. The decision passed 10–2, with governors Lisa Cook and Beth Hammack dissenting in favor of another quarter-point hike.
Why the split matters
Two officials voting for a hike signaled that the rate-hiking cycle may not be over. After the meeting, futures markets priced roughly an 85% chance of a December increase, according to market reports.
What it means for crypto
Higher interest rates raise the opportunity cost of holding non-yielding assets such as Bitcoin, and crypto has been trading closely with tech stocks. Bitcoin's immediate reaction to the announcement was muted, but expectations of tighter policy weighed on sentiment in the days that followed, alongside the Binance hack and spot ETF outflows.
Learn how macro conditions shape crypto prices in our guide to crypto market cycles.
This article is for informational purposes only and is not financial advice.
This content is for educational purposes only and is not financial advice. Cryptocurrency investments are volatile and risky. Some links may be affiliate links — see our disclosure.