Key Highlights

● Bitcoin traded calmly around $81,300 through the Fed decision.

● Ether traded around $2,363, also slightly higher.

● The Fed decision was treated as a non-event for crypto.

● Robinhood's crypto revenue fell sharply from a year earlier.

Bitcoin traded calmly through the Federal Reserve's decision, edging higher to around $81,300, with ether, the second-largest cryptocurrency, trading around $2,363, also slightly higher. The Fed left its benchmark rate range unchanged in a 10-2 vote, with two officials dissenting in favor of a hike.

The hold was widely expected, and with the decision out of the way, investors' focus shifted to Big Tech earnings.

The Fed Was a Non-Event for Crypto

The Fed's statement said economic activity is expanding at a strong pace, while inflation remains elevated, and long-dated Treasury yields climbed, with the 10-year pushing past a key psychological threshold, though bitcoin largely shrugged it off.

After the closing bell, Microsoft rose in extended trading after beating expectations, while Alphabet slid sharply after missing earnings forecasts, and stocks rose modestly during the regular session.

Crypto Stocks in Focus

Robinhood Markets, a popular trading app for crypto, fell after its third-quarter profit missed estimates despite record revenue, with crypto revenue dropping sharply from a year earlier even as overall trading volume hit a record.

The bigger crypto catalysts were still ahead, with Strategy, the company best known for holding bitcoin on its balance sheet, and Coinbase Global both scheduled to report later in the week.