Bitcoin Recovers Above $76,000 After Fed Hike
Bitcoin has managed to recover above $76,000 after the Federal Reserve's first rate increase in three years. According to Coinbase, BTC reached a price of $76,312.93 on September 17, just 0.5% below its 24-hour high.
The path to this recovery was not a clean escape from the recent trading range, as Coinbase's rolling 24-hour data shows the low at $74,911.53 and the high at $76,714.68, with a $1,803.15 span.
Ether showed a stronger first response to the Fed hike, trading at $2,437.67, 1.38% above its 24-hour open, based on Coinbase's ETH-USD statistics.
The Federal Open Market Committee voted 12-0 to lift the federal-funds target by a quarter point, to 3.75%, 4.00%. The new projections show that the median Fed participant now sees the policy rate at 4.1% at the end of both 2026 and 2027.
The investment argument will ultimately turn on whether incoming inflation data validate the Fed's higher rate path or force another repricing, as a move above $76,714.68 would take Bitcoin beyond its current 24-hour high, while a loss of $74,911.53 would erase the entire post-decision recovery.