The 8:4 split ratio is more stimulating than the rate cut itself; the Federal Reserve's show is more exciting than a TV series.

Federal Reserve Decision Shows the Largest Disagreement in 34 Years, Crypto Market Enters a Critical Juncture

The FOMC meeting on April 28-29 has concluded. The Federal Reserve kept the interest rate unchanged at 3.5%-3.75%, but the vote—8 in favor and 4 against—marked the most severe split since 1992, sending a “policy signal flare” into the market.

This disagreement shows a two-way opposition: Board member Milan called for a 25 basis point rate cut, while the three voting members Harker, Kashkari, and Logan opposed the easing language in the statement. The policy balance clearly tilted toward “maintaining high interest rates for a longer period.” Combined with Powell’s announcement that he will step down as Chair but remain as a board member, and with new Chair Waller expected to take over around May 15, the Federal Reserve is entering a special phase of leadership transition and policy-route bargaining.

After the decision took effect, the price of Bitcoin briefly rose above the $77,000 level, reflecting the market’s contest over liquidity expectations. But U.S. Treasury yields also rose in step, with interest-rate markets already pricing in the possibility of future rate hikes, suggesting that the easing window is narrowing. For the crypto market, the signals of division within the Federal Reserve and the change in leadership mean that uncertainty about future policy paths will continue to be amplified. Short-term volatility and divergence from long-term trends may further intensify. #WCTC交易王PK $BTC ‌$ETH ‌#美联储利率不变但内部分歧加剧 #Polymarket每日热点 @Gate广场_Official