Crypto Market Rebounds After Fed Rate Hike, BTC Recovers Above $76,000

The crypto market rebounded on Sept. 17 after the Federal Reserve's widely expected 25-basis-point rate hike.

BTC recovered above $76,000 as several major cryptocurrencies moved higher, with Ethereum up 1.73% to about $2,442.81 and BNB gaining 2.30% to around $726.06.

The Fed raised interest rates by 25 basis points to 3.75%-4%, a move traders had largely anticipated before the announcement.

CryptoQuant analyst Crypto Dan noted that falling Bitcoin UTXOs in loss may reduce the risk of a return to a full bear cycle, citing on-chain data rather than short-term price action.