Bitcoin Price Rises. What's Driving Cryptos After Fed Rate Decision. — Barrons.com

By Elsa Ohlen

Bitcoin and other cryptocurrencies rose early Thursday, recouping losses after the Federal Reserve's latest decision to hold interest rates steady.

Bitcoin is up 0.5% over the past 24 hours to $118,752, according to CoinDesk data. The price of the world's largest crypto fell sharply to about $116,000 immediately after the central bank announced its decision to hold rates steady on Wednesday afternoon, but have slowly climbed back up again since.

Ether rose 1.4% and XRP 0.8%. Solana traded up 0.2%.

The price of Bitcoin has hovered just under the $120,000 mark since mid-July after it hit a record high of over $122,000.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

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