Bitcoin Remains Steady After Fed’s Rate Hike Announcement
- Bitcoin traded at $76,663, up 1.35% in the last 24 hours.
- The US Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4%.
- 16 out of the FOMC’s participants expect at least one more rate hike this year.
- Approximately $82 million in Bitcoin and $68 million in Ether saw net selling in perpetual futures markets.
- Around $15.5 million of net spot buying was recorded for Bitcoin, indicating strong demand amidst selling pressure.
Despite the Fed’s decision to raise rates, Bitcoin has shown resilience, maintaining levels around $76,000 while equities declined. Analysts note that market reactions indicate investors are repositioning as they assess the implications of further tightening.
With Bitcoin holding steady at $76,663 after the Fed’s announcement, market dynamics suggest a complex interplay between spot demand and derivatives trading activity.(Source)
