Bitcoin Holds $76K After First Fed Rate Hike Since 2023

Fed rate hike — Bitcoin remained stable near $76,000 following the U.S. Federal Reserve’s first interest rate increase since 2023, as markets look ahead to potential further tightening.

The Fed’s Federal Open Market Committee voted unanimously on Wednesday to raise its benchmark rate by 25 basis points to a target range of 3.75% to 4.00%. Analysts noted Bitcoin’s muted initial reaction, trading up 1.35% on the day near $76,663, while U.S. equities declined.

Market resilience was tested as 16 of 18 Fed officials projected at least one more rate hike before year-end. “The initial reaction suggests the Fed’s decision was largely anticipated by crypto markets,” said Cooper Duschang, a research analyst at Talos.

Analysts observed a divergence between spot and derivatives markets post-announcement, with perpetual futures seeing net selling pressure while Bitcoin recorded net spot buying. “Investors appear to be actively repositioning as they digest the Fed’s message,” Duschang added. Market participants now question whether Bitcoin’s stability will hold as focus shifts to the prospect of further monetary tightening.