Crypto Market Surges After Fed Rate Hike, BTC Reaches $76.4k

Crypto majors have surged after the Federal Reserve's rate hike, with Bitcoin reaching $76.4k and altcoins like ZEC, NEAR, LIT, and VVV seeing double-digit gains.

The price of BTC has increased by 1.23% in the past 24 hours to reach a spot price of $76,619. This follows the Fed's decision to raise interest rates for the first time since 2023, which had a mixed impact on the crypto market.

Altcoins are also seeing significant gains, with ZEC up by 14.4%, NEAR by 12.5%, LIT by 13.1%, and VVV by 15.6%. These increases come despite some selling pressure in spot Bitcoin ETFs, which saw a net outflow of $295.9 million on September 16.

In other news, the U.S. House has advanced the U.S. Strategic Bitcoin Reserve bill, while Circle's Arc chain has seen over $400 million in volume in its debut.