Bitcoin Defies Fed Hike to Reach New Heights as AlphaPepe Nears $3M Fundraising Target

The Federal Reserve's decision to raise interest rates for the first time in three years was expected to weigh on cryptocurrencies, but Bitcoin has defied expectations by climbing above $80,000. The rally came as AlphaPepe, a new project, neared its $3 million fundraising target with over 11,900 holders already committed.

The Federal Reserve's 25-basis-point rate hike was seen as a potential headwind for cryptocurrencies, but Bitcoin has shown resilience in the face of tighter monetary policy. The asset's rally above $80,000 suggests that buyers had already prepared for the rate increase and were waiting for the market to react.

AlphaPepe's presale fundraising has been strong, with over $2.72 million raised so far, putting it within reach of its $3 million target. The project's holder count has also exceeded 11,900, indicating a broad base of support among retail buyers.