Bitcoin Steadies Above $76,000 as Fed Resumes Rate Hikes

Key Moments

• The Federal Reserve raised its benchmark rate by 25 basis points to a 3.75%-4.00% target range in a unanimous 12-0 vote.
• Bitcoin traded around $76,117, up 0.1% in the past 24 hours, with crypto price moves remaining relatively subdued after the decision.
• Updated Fed projections indicated the possibility of another rate hike later this year, with a median year-end federal funds rate forecast of 4.1%.

Fed Lifts Rates as Inflation Fight Takes Priority

The Federal Reserve increased its benchmark interest rate by 25 basis points on Wednesday, lifting the federal funds target range to 3.75%-4.00%. The move represented the central bank’s first rate hike since July 2023 and was backed unanimously by all 12 voting members.

In its latest policy statement, the Federal Open Market Committee (FOMC) noted that economic growth has continued at a “solid” pace while inflation remains elevated. Officials stated that the new rate setting is intended to help achieve a “timelier return” to the Fed’s 2% inflation objective.

The unanimous outcome was the first such agreement since May 2025, according to The Kobeissi Letter. The rate increase went ahead despite repeated public calls from President Donald Trump for rate cuts and his warnings of additional tariffs on U.S. trading partners if borrowing costs were not reduced.