Three Fed officials just voted for a rate hike as Bitcoin hangs by a thread on a $62,000 shelf

The Federal Reserve held its benchmark rate at 3.50% to 3.75% on July 29 in a 9-3 vote that showed real division inside the committee: Beth Hammack, Neel Kashkari and Lorie Logan all preferred a quarter-point increase.

That was the first time since September 2016 that three policymakers dissented in the same direction.

Bitcoin briefly traded above $64,000 once the decision landed, then slipped back toward $63,600 before reclaiming $64,000 overnight. That leaves it near the bottom of the price range on-chain analytics firm Glassnode considers most important for the current cycle.

Stephen Coltman, head of macro at 21Shares, called the hold a “sigh of relief.” He also described it as a gamble: a hot inflation print could force a difficult decision in September in the middle of the US midterm campaign.

The shelf Bitcoin is sitting on

Glassnode identifies $62,000 to $68,000 as the heaviest cost-basis cluster in Bitcoin's supply profile. That band splits roughly evenly between long-term holders, who tend to provide support, and short-term holders, who are still underwater and more prone to selling into the next bounce.

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