- The Federal Reserve raised its benchmark interest rate by 25 basis points to 3.75%-4%, the first hike since 2023, but Bitcoin held near $76,000 with minimal reaction.
- Bitcoin traded at $76,663 at the time of writing, up 1.35% in 24 hours, even as US stocks slipped following the announcement.
- Analysts note that perpetual futures showed net selling pressure, but spot buying of roughly $15.5 million in Bitcoin absorbed some of the derivatives selling.
- Fed Chair Kevin Warsh indicated inflation remains too high, and updated projections show most officials expect at least one more rate hike this year.
The Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75% to 4% on Wednesday, marking the first increase since 2023 to combat persistent inflation, yet Bitcoin held near its pre-announcement levels around $76,000.
Bitcoin traded at $76,663 at the time of writing, up 1.35% in 24 hours, showing little immediate reaction despite US stocks slipping on Wednesday. “The initial reaction suggests the Fed’s decision was largely anticipated by crypto markets,” said Cooper Duschang, research analyst at Talos.
Consequently, crypto analysts warned that Bitcoin’s resilience could be tested again if the Fed raises rates further this year. During the FOMC press conference, Fed Chair Kevin Warsh said inflation remains too high while the US economy appears to be strengthening.
The Fed’s updated economic projections show a majority of officials see at least one more rate hike before the end of the year, according to data from the US Federal Reserve. Andrew Melville, head of research at Block Scholes, noted that another increase would be a “more hawkish surprise than today’s 25bp hike.”
Meanwhile, Duschang observed movement in spot and derivatives markets despite muted price action. Perpetual futures shifted toward net selling, with approximately $82 million in Bitcoin and $68 million in Ether sold over the past hour, while Bitcoin saw roughly $15.5 million of net spot buying.
“Rather than a uniform risk-off response, investors appear to be actively repositioning as they digest the Fed’s message,” Duschang said. The key question now is whether Bitcoin’s resilience and spot demand will hold as attention turns from the widely anticipated hike to the prospect of further tightening.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- OpenAI reports 6 AI safety lapses: models hid errors, leaked files.
- CLARITY Act could get lame-duck session chance
- Fed Hikes Rate to 4%, First Since 2023; Bitcoin Flat $75.5K
- Circle Launches Arc Mainnet Amid Senate Rejection; Stock Dips 6%
- Russian spies use Telegram, crypto to recruit teens for sabotage
