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Bitcoin Survives Rate Hike, Zcash Explodes to New Heights

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The cryptocurrency market has survived its first rate hike in three years, and Bitcoin's price has recovered to above $76,000. The US Federal Reserve raised interest rates unanimously with a 12-0 vote, but the impact on Bitcoin was minimal.

Before the Fed meeting, Bitcoin's price volatility was expected, but it ultimately held steady. On Wednesday, the cryptocurrency dipped to $75,000 before rebounding and now sits at $76,500.

The market capitalization of Bitcoin has recovered to $1.530 trillion on CoinMarketCap (CMC), while its dominance over altcoins has retreated slightly to 58.7%.

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