Bitcoin Surges Amid Fed Hike and SEC Regulatory Relief

The Federal Reserve's rate hike on Wednesday has sent shockwaves through the financial markets. Goldman Sachs, which had earlier scrapped its September forecast for a rate hike, now predicts that the Fed will raise rates in October instead.

This shift in expectations comes as the SEC published its long-awaited 'Innovation Exemption', allowing on-chain trading of tokenized stocks on eligible venues. The measure takes effect immediately and is seen as a positive development for the crypto market, which has been closely watching regulatory developments.

Bitcoin has responded positively to the rate hike news, rising to $76,621 in value. This surge is attributed to traders' focus on projections showing only one additional hike ahead, indicating that the Fed may soon slow down its tightening cycle.