Bitcoin Consolidates Above $76K Amid US Stocks Rebound

Bitcoin traded near $76,500 on Thursday as investors snapped up US stocks following their recent dip. The price consolidation came after the cryptocurrency dropped below $76,000 in response to a 0.25% interest-rate hike by the US Federal Reserve.

The Fed's rate increase was its first since July 2023, signaling an end to three years of easing. Despite this, assets continued to perform strongly, with The Kobeissi Letter suggesting that they would continue to do so despite lower-liquidity conditions associated with the rate hikes.

US equities rebounded on Thursday, with the Nasdaq Composite Index gaining 1.5% and the S&P 500 Index increasing by 0.9%. CryptoQuant's Bull Score Index also retained its bullish slant on market conditions, circling 60/100 on Thursday.