Bitcoin Price Bounces Above $75K Support as Fed Rate Decision Takes Effect
The Bitcoin price rebounded above $75K support after buyers defended the area during the Federal Reserve's interest-rate increase announcement. The central bank raised its benchmark range by 25 basis points to 3.75%, 4.00%, with 16 of 18 officials expecting at least one more increase before the end of 2026.
The rate decision was largely priced into markets, helping Bitcoin avoid another sharp decline during Fed Chair Kevin Warsh’s press conference. However, earlier selling followed the U.S. Senate's failure to advance the CLARITY Act, which sought to divide digital asset oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The daily chart shows that Bitcoin remains in a weaker position despite holding above $75K. The price trades below the Bollinger Band midpoint at $78,028, acting as the first major technical barrier. Analysts are watching for a move above this level to improve the short-term structure and potentially trigger a broader recovery.