Bitcoin Holds Ground at $76K Amid Warning Signals from Demand Gauges

Bitcoin (BTC) held its ground at around $76,000 after the Federal Reserve's rate hike announcement, but several indicators are flashing warning signals. The Fed raised its target range by 25 basis points to 3.75% to 4.00%, a move that was largely priced in before the meeting.

Fed Chair Kevin Warsh said he would be 'hard pressed' to call broad financial conditions restrictive, but 16 of 18 policymakers projected at least one more hike this year. This combination raises the bar for liquidity-sensitive assets beyond what a single quarter-point move could settle on its own.

Several demand gauges have turned in the same direction for Bitcoin, including Realized Cap, which posted its first negative daily reading after 27 days of growth. US spot Bitcoin ETFs recorded $450.4 million of net outflows on Sept. 15, and stablecoin supply sits near $301 billion, flat for the week.

Fabian Dori, chief investment officer at Sygnum Bank, framed the slowdown in corporate treasury purchases as a structural liquidity question that outlasts any single Fed meeting.