Bitcoin price recovers as Fed Chairman Varsh explains the halt in interest rate hikes The US Federal Reserve decided to leave interest rates unchanged after raising them in September, when two policymakers voted in favor of raising interest rates. Fed Chairman Kevin Wersch stressed the need to address persistent inflation and highlighted the resilience of the US economy despite continued financial uncertainty. Bitcoin experienced volatility but recovered above $81,000 following the Fed announcement and the Warsaw press conference, despite earlier predictions of a potential price drop.