Crypto
Bitcoin Stands Firm at $76.7K Despite Fed-Driven Macro Shock
The Federal Reserve's recent decision to raise its target rate by 25 basis points to 4.00% has triggered a macro shock in financial markets, causing the dollar and Treasury yields to rise. However, Bitcoin has shown resilience and continues to trade around $76.7K.
BTC remains in a controlled corrective phase after being rejected at the major $80.5K-$82.3K resistance zone on its daily chart. Despite this, it is still comfortably above the key $72K-$74K support region.
The market's response to the Fed's move suggests that Bitcoin has absorbed the shock without losing its broader post-breakout structure. This indicates a level of stability in the crypto market, with buyers yet to regain clear control.