Major cryptocurrencies rise as Fed signals steady rates; Bitcoin gains 5.09%

  • Cryptocurrency prices rose after the Federal Reserve indicated rates could remain unchanged.
  • Bitcoin gained 5.09% to $81,099 at 8:11 a.m. on September 4.
  • Christopher Waller cited emerging disinflation signs while discussing the Fed's 2% inflation target.

Major cryptocurrencies rose after the U.S. Federal Reserve (Fed, the U.S. central bank) indicated it could keep the benchmark interest rate at its current level. Bitcoin traded at $81,099 at 8:11 a.m. on September 4, up 5.09% in 24 hours, while Ethereum gained 4.66% to $2,496.99. XRP surged 7.77% to $1.45 and Solana climbed 4.2% to $104.05. Christopher Waller, a director of the U.S. Federal Reserve, said inflation remained above the Fed's 2% target but that recent trends showed signs of disinflation. The gains reflected a market response to the prospect of stable borrowing costs for risky assets.

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