Bitcoin trades near $76K as US stocks rebound from Fed’s first rate hike since 2023
The Fed raised rates 25 basis points to 3.75%-4%, and Bitcoin barely flinched, holding steady while equities bounced back.
The Federal Reserve just reminded everyone that rate hikes aren’t ancient history. On September 16, the FOMC unanimously voted to raise the benchmark federal funds rate by 25 basis points, pushing the target range to 3.75%-4%. It’s the first increase since July 2023, ending a stretch where markets had grown comfortable with the idea that tightening was over.
Bitcoin’s response? A collective shrug. The largest cryptocurrency by market cap settled into a range between $76,000 and $76,800 in the hours following the announcement, posting modest daily gains while traditional markets recalibrated. By September 17, US equities joined the party, with the S&P 500, Nasdaq, and Dow all rebounding as falling oil prices helped investors digest the Fed’s hawkish posture.
What the Fed actually said
Fed Chair Kevin Warsh didn’t mince words. He described current inflation levels as “unacceptable” and stressed the need to recalibrate financial conditions to get back to the central bank’s 2% target.
The median dot plot suggests one more potential 25 basis point hike before year-end. That means the committee isn’t viewing this as a one-and-done move.
Macro, rates, and crypto—what moved markets and what matters next.
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Bitcoin’s quiet resilience
Bitcoin held firm near $76,000, supported by consistent spot demand even as futures markets showed some initial selling pressure. While equities sold off immediately after the announcement before recovering the next day, Bitcoin barely moved.
That said, not everything was rosy on the crypto front. Bitcoin ETFs reported significant outflows in recent sessions, with hundreds of millions in net redemptions. Adding to the headwinds, the Senate recently rejected the Clarity Act, a piece of legislation that would have provided clearer regulatory frameworks for digital assets.
Equities bounce, but the path forward is murky
The equity rebound on September 17 was driven partly by easing oil prices, which took some pressure off inflation expectations. Energy costs have been one of the stickier components of inflation throughout 2026, so any relief there provides the Fed with more flexibility on timing future hikes.