Bitcoin analysts agree the Fed's hold was hawkish. They are split on what happens next.

The Fed held interest rates steady Wednesday, in a decision shadowed by unusual uncertainty after several prominent voices had called for a hike. Bitcoin BTC $ 64,131.49 barely blinked, trading in a tight band around $64,000 through the decision and Chair Kevin Warsh's press conference. Despite the calm, analysts appear divided on the post-Fed outlook for BTC. Some are calling the Fed’s decision the least favorable outcome for digital assets, while others are taking a more constructive view. Andrei Grachev, managing partner at DWF Labs, is worried about what Wednesday's hold, delivered with a hawkish tone, signals about the Fed's tolerance for pain.