Bitcoin News

Story: Bitcoin Stays Steady Near $76,500 Following Fed’s First Rate Hike Since July 2023

By Julie Binoche

1 / 15

Fed Ends Three Years of Easing. The 25-basis-point move isn't just a number. It ends a prolonged stretch where the Fed was either…

2 / 15

CryptoQuant's Bull Score Drops to 60. Here's where it gets more nuanced. CryptoQuant, the onchain analytics platform, flagged several…

3 / 15

Bitcoin is sitting just under $76,500 right now, and the move higher tracks almost perfectly with a recovery in US equities after the Federal Reserve raised benchmark interest…

4 / 15

The S&P 500 gained 0.9% and the Nasdaq Composite jumped 1.5% after the Fed moved rates into the 3.75%–4% range.

5 / 15

The 25-basis-point move isn't just a number. It ends a prolonged stretch where the Fed was either cutting rates or holding them flat — a period that broadly supported risk…

6 / 15

Trading resource The Kobeissi Letter pushed back on the doom narrative a bit, saying strong asset performance could continue even with higher rates in play.

7 / 15

Globally, the rate picture is shifting too. The European Central Bank raised rates by 0.25% last week. The Bank of Japan is widely expected to follow soon.

8 / 15

Here's where it gets more nuanced. CryptoQuant, the onchain analytics platform, flagged several macroeconomic headwinds that could slow Bitcoin's momentum.

9 / 15

More context: Bitcoin Stays Steady at $76,200 After Feds First Rate Hike Since July 2023

10 / 15

Moreno's read: diminishing US demand for Bitcoin, rising altcoin inflows pulling capital sideways, and macro uncertainties — specifically the CLARITY Act delay and the potential…

11 / 15

And that's probably the right framing right now. A Bull Score of 60 doesn't mean sell everything. It means don't get overconfident.

12 / 15

The liquidity picture adds another layer. When bid-ask spreads tighten and liquidity clusters around spot price, it usually means the market is in a holding pattern.

13 / 15

Altcoin inflows are worth a closer look too. When capital rotates into smaller tokens, it can drain momentum from Bitcoin even during technically bullish periods.

14 / 15

Read also: Bitcoin Plummets to $75,242 as Fed Raises Rates and Rejects Digital Asset Market Clarity Act

15 / 15

Short-term, the $70,000 level is the one to watch. It's a round number and a psychologically significant one.

The Currency Analytics

Want the full story?