Bitcoin (BTC) climbed to an intraday high of $80,612 Wednesday afternoon, up 3.4% in the 24 hours surrounding the FOMC decision, marking its first close above $80,000 since April 8. Ethereum (ETH) gained 4.5% to $2,478, while Solana (SOL) jumped 6.2% to $146 and XRP rallied 5.9% to $2.21. Total crypto market capitalization climbed to $2.78 trillion, the highest in three weeks.
BlackRock's iShares Bitcoin Trust (IBIT) recorded $478 million of net inflows on Wednesday, the strongest single-session inflow in 21 trading days. Aggregate U.S. spot bitcoin ETF inflows totaled $940 million, with the eleven-fund cohort's combined assets crossing $215 billion. Ethereum spot ETFs added $112 million on the day, led by BlackRock's ETHA and Fidelity's FETH.
Why the Fed Decision Matters for Crypto
Crypto traders had carried elevated downside hedges into the FOMC, fearful that a hawkish Powell could push real yields higher and force liquidation of long bitcoin positions. The decision to remove "somewhat elevated" inflation language and shift to "two-sided risks" was interpreted as confirmation that the next directional move on rates remains undecided — and therefore not an explicit hike threat. The 10-year real yield (TIPS) closed unchanged at 1.94%.
Coinbase (COIN), MicroStrategy (MSTR), Marathon Digital (MARA), Riot Platforms (RIOT) and CleanSpark (CLSK) each closed between 4% and 8% higher. MicroStrategy disclosed in an 8-K filing late Tuesday that it acquired an additional 8,420 BTC at an average $78,400, bringing total corporate holdings to 620,820