Bitcoin Holds Above $76,000 After Fed’s First Rate Increase in Three Years as Spot Buying Provides Support

Forecast Trend Report by Period

Bitcoin held above $76,000 after the Federal Reserve raised its benchmark interest rate for the first time in three years, showing a relatively muted reaction to the decision.

Cointelegraph reported on Sept. 17 that Bitcoin was trading at $76,663 at the time of writing, with little volatility after the Fed announcement. That was up 1.35% from 24 hours earlier.

The Federal Open Market Committee voted unanimously to raise the benchmark rate by 0.25 percentage point to 3.75%-4.00%. While higher rates typically weigh on risk assets such as stocks and cryptocurrencies, Bitcoin stayed near its pre-announcement range immediately after the decision.