Bitcoin volatility eases, rangebound near $76,500 as U.S. stocks rebound

Bitcoin is maintaining a rangebound pattern, posting limited gains around $76,500.

On Sept. 17 (local time), blockchain media outlet Cointelegraph reported that U.S. stocks rebounded after the U.S. Federal Reserve raised its benchmark rate, but bitcoin failed to establish a clear direction and volatility appeared to be easing.

Bitcoin traded around $76,500 after the U.S. stock market opened. U.S. stocks rose as investors bought dips from recent declines. The S&P 500 gained 0.9 percent and the tech-heavy Nasdaq Composite rose 1.5 percent.

In the bitcoin market, both buy and sell liquidity thickened around the spot price. With orders building near the current price in CoinGlass data, a typical sideways phase emerged in the short term, with moves confined to a range. Over the past 24 hours, only limited movement was seen, mainly absorbing some nearby liquidity.

This move has been driven by the Fed's shift in monetary policy. On Sept. 16, the Fed raised its benchmark rate by 25 basis points to 3.75 to 4.0 percent. It was the first rate increase since July 2023. This effectively ended a three-year easing stance in which the Fed had cut rates or kept them in the same range at each meeting.