Fed Rate Hike Falls Flat on Bitcoin Price

The Federal Reserve's decision to raise the benchmark federal funds rate by 25 basis points has had a modest impact on Bitcoin, which held firm near $76,000 in the hours following the announcement.

This is the first increase since July 2023, ending a stretch where markets had grown comfortable with the idea that tightening was over.

Fed Chair Kevin Warsh described current inflation levels as 'unacceptable' and stressed the need to recalibrate financial conditions to get back to the central bank's 2% target.

The median dot plot suggests one more potential 25 basis point hike before year-end, indicating that the committee isn't viewing this as a one-and-done move.