Bitcoin Remains Steady Amid Fed Rate Hike
- Bitcoin traded at $76,663, up 1.35% in the last 24 hours, following a rate hike by the US Federal Reserve.
- The Federal Open Market Committee raised rates by 25 basis points to a target range of 3.75% to 4%.
- 16 out of 18 FOMC participants expect at least one more rate increase this year.
- Approximately $82 million in Bitcoin and $68 million in Ether were sold in perpetual futures markets shortly after the announcement.
- Around $15.5 million of net spot buying for Bitcoin was recorded, indicating strong demand despite selling pressure.
Despite the Fed’s decision to raise interest rates, Bitcoin has shown resilience, maintaining its price around pre-announcement levels while equities declined. The market is now focused on potential future tightening as inflation remains high.
With Bitcoin holding steady at $76,663 amid significant market movements, investors are actively repositioning as they assess the implications of ongoing monetary policy changes.(Source)
