Crypto Market Sees Rangebound Movement Amid US Rate Hike

The cryptocurrency market showed rangebound movement on Thursday following the US Federal Reserve's announcement of a rate hike for the first time in three years. The FOMC announced a 25 basis points (bps) increase, which brought the federal funds rate to 3.75%-4%. The Fed also signaled a possibility of another rate hike later in 2026.

The top cryptocurrencies, including Bitcoin, Ethereum, BNB, Solana, Hyperliquid, and Monero, displayed varying levels of growth over the last 24 hours. According to Forbes data, Bitcoin gained nearly 0.29%, while Ethereum rose by 1.4%. BNB surged close to 1.77% but was trading lower at $722.58.

Solana and Hyperliquid saw significant gains, with Solana rising 2.60% and Hyperliquid increasing by 2.58%. However, Monero declined over 1.57% over the last 24 hours. The cryptocurrency market has experienced a sharp boom over the past few years, with Bitcoin exhibiting volatility between March and August this year.