Bitcoin traded above $76,000 on Thursday, reversing earlier losses following the Federal Reserve’s policy announcement and renewed volatility across crypto markets. The central bank’s Federal
Bitcoin traded above $76,000 on Thursday, reversing earlier losses following the Federal Reserve’s policy announcement and renewed volatility across crypto markets. The central bank’s Federal Open Market Committee increased interest rates by 25 basis points on Wednesday, marking its first rate hike since 2023.
The Federal Reserve’s decision to lift the benchmark target range to 3.75%-4% came with a unanimous 12-0 vote. Investors had largely anticipated the rate adjustment, leading to a relatively measured response in Bitcoin’s price shortly after the news.
After the policy announcement, Bitcoin briefly dipped toward $75,000 but soon regained momentum, rising to approximately $76,500. Earlier in the week, the cryptocurrency had reached a high of $79,500 before encountering selling pressure amid shifting market conditions.
Bitcoin experienced a sharp yet temporary decline following the Fed’s announcement, but its rapid rebound above $76,000 demonstrated continued investor interest despite tighter monetary policy.
The volatility was exacerbated after the US Senate failed to advance the CLARITY Act, legislation designed to clarify rules for digital assets. This setback pushed Bitcoin to a monthly low near $75,000 before the recovery unfolded.
Market data indicated approximately $15.5 million in net spot Bitcoin purchases after the rate decision, while derivatives markets faced stronger selling. Exchange data tracked 2,170 BTC moving onto trading platforms, followed by 1,260 BTC in withdrawals. US spot Bitcoin exchange-traded funds recorded $296 million in net outflows on September 16.
Large-cap cryptocurrencies rallied alongside Bitcoin. Ethereum gained over 1.5%, trading near $2,450. BNB climbed to about $725, and Solana approached the $100 mark. Altcoins including XRP, DOGE, TRX, LINK, and HYPE also registered daily advances.
Zcash delivered the most notable rise among major tokens, surging more than 14% above $1,350. NEAR also reported significant gains, while assets like CRO, UNI, DOT, ENA, ONDO, and PUMP moved higher. By contrast, RAIN defied the general uptrend, falling close to 8% on the day.
Mini dictionary: CLARITY Act, a legislative proposal in the US aiming to clearly define the regulatory framework for digital assets and cryptocurrencies, which has generated significant debate within the crypto industry.
Asset Price/Movement Daily Change Bitcoin $76,500 Recovered from $75,000 Ethereum $2,450 +1.5% BNB $725 +1.5% Solana Approaching $100 Gaining Zcash $1,350+ +14% RAIN – -8%The total value of the cryptocurrency market climbed by more than 1% in the last 24 hours, reaching approximately $2.61 trillion. Bitcoin’s market capitalization returned to around $1.53 trillion, while its share of the total market slipped to 58.7%, indicating broader advances among sizable altcoins.
Despite ongoing volatility, Bitcoin retained its footing above the $76,000 level, with investors focused on future monetary policy decisions, trends in ETF activity, and wider financial risk sentiment heading into the next round of trading sessions.
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