Crypto Overview: Bitcoin steadies above $76,000 amid Fed rate hike – Privacy coins rally

• Bitcoin hovers around $76,000 on Thursday, holding above a crucial support as momentum weakens.
• The US Federal Reserve announced a 25-bps interest rate hike on Wednesday, raising the target range to 3.75%-4.00%.
• Privacy coins, Zcash and Dash, post double-digit gains over the last 24 hours, emerging as top performers.

Bitcoin (BTC) holds steady around $76,000 at press time on Thursday, showing near-term strength as the US Federal Reserve (Fed) raised interest rates by 25 bps. Privacy coins, Zcash (ZEC) and Dash (DASH), post double-digit gains over the last 24 hours, emerging as top performers.

Bitcoin floats above key support zone despite weak momentum

Bitcoin hovers around $76,200 at press time on Thursday, holding steady after a 3% decline on Tuesday. BTC maintains a constructive bias above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) around $73,695, $71,495, and $73,237, respectively. This positioning suggests the broader uptrend is still intact despite a cooling in momentum.

The Relative Strength Index (RSI) hovers near the neutral 50 level on the daily chart, and the Moving Average Convergence Divergence (MACD) extends downward below its signal line, reaffirming reduced upside pressure.