Crypto
Bitcoin Holds Steady Near $75K Amid Fed Rate Hike
The Federal Reserve raised interest rates by 25 basis points to a range of 3.75%-4% on September 16, its first hike since 2023, aimed at combatting inflation above its 2% target.
Bitcoin remained stable around $75,000 to $76,000, showing little immediate reaction despite significant outflows of about $746 million from US spot Bitcoin ETFs over two sessions.
Most Fed officials expect at least one more rate hike before year-end, signaling a 'higher for longer' stance that could affect risk assets. Key Bitcoin support is at $75,000, with resistance between $77,000 and $78,000.