Bitcoin Trades Near $76.7k as Fed Hike Fails to Shake Markets
Bitcoin traded in a tight range on Thursday at $76.7k as markets digested an interest rate hike by the Federal Reserve.
The world's largest crypto rose 1.1% to $76,501.7 by 09:55 ET (13:55 GMT) after showing limited reaction to the Fed's rate hike overnight.
Broader crypto prices moved in a flat-to-slightly-higher range but were nursing some losses ahead of the Fed decision.
The failure of a major crypto regulatory act, Clarity, in the U.S. Senate had rattled crypto markets this week.
Fed Chair Kevin Warsh struck a hawkish chord following the central bank's decision, warning that inflation still remained too high.
Higher rates usually bode poorly for crypto as they increase the opportunity cost of investing in non-yielding, speculative assets.
However, easing tensions in the Middle East after reports of U.S.-Houthi talks offered some relief to Bitcoin, which tracked broader gains in risk-driven markets.
The SEC unveiled an exemption allowing companies to offer trading in blockchain-based stocks and other securities, paving the way for tokenized stock trading.
Platforms facilitating trading of tokenized stocks will receive a five-year exemption from many requirements that apply to traditional exchanges.