Bitcoin Steady as Markets Digest Rate Hike and Mideast Tensions
The Bitcoin price held steady at around $76.5k on Thursday as markets digested an interest rate hike by the Federal Reserve and continued to monitor tensions in the Middle East.
The world's largest cryptocurrency rose 0.8% to $76,698.7 by 05:28 ET (09:28 GMT), showing limited reaction to the Fed's rate hike overnight.
Fed Chair Kevin Warsh struck a hawkish chord following the central bank's decision, warning that inflation still remained too high, which markets interpreted as likely heralding more rate hikes by the Fed.
The failure of a major crypto regulatory act in the U.S. Senate had also rattled crypto markets this week, but some relief came from easing tensions in the Middle East after Reuters reported the U.S. had held talks with Yemen's Iran-backed Houthis.