Crypto Market Rebounds as Fed Raises Interest Rates by 25 Basis Points

The crypto market rebounded after the Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00%. Bitcoin recovered above $76,000 following the decision, and several major cryptocurrencies moved higher.

According to Crypto Dan, a CryptoQuant analyst, falling Bitcoin UTXOs in loss may reduce the risk of a return to a full bear cycle.

The Fed's rate hike was widely expected before the announcement, which reduced its impact on the market. Traders had already positioned themselves for the decision, so crypto prices responded more to what was already known than to the hike itself.