Fed Rate Hike Tests Bitcoin's Resilience Around $76.7K

The Federal Reserve's decision to raise its target rate by 25 basis points has put Bitcoin under pressure, but so far, it has not led to a major technical breakdown. The cryptocurrency is currently trading around $76.7K, with buyers struggling to regain control.

On the daily chart, Bitcoin remains in a corrective phase after being rejected by the major $80.5K-$82.3K resistance zone. Despite the Fed's rate hike, the decline has been relatively controlled, and BTC is still comfortably above the key $72K-$74K support region.

However, the negative Coinbase Premium Index suggests that U.S. spot demand remains weak, and selling pressure continues to outweigh aggressive buying on the platform. This may indicate caution for investors, as a sustained return of the index above zero would be needed to confirm a strong comeback by spot buyers.