Bitcoin today: BTC rises after Fed rate hike and Zcash jumps more than 20%
Bitcoin is trading higher this Thursday (17), recovering part of the losses from the past few days even after the (Fed) raised U.S. interest rates for the first time since 2023. The move follows an improvement in risk appetite across global markets, while Zcash surges more than 20% and leads by a wide margin among gains among major cryptocurrencies.
This morning, Bitcoin is up 1%, quoted at US$ 76.241 in 24 hours. In reais, the world’s largest cryptocurrency was at R$ 394.120, according to the Bitcoin Portal. ETH, in turn, rises 1.5%, to US$ 2.429. Meanwhile, XRP is up 1.2%, while Solana is up 3.4% and BNB gains 2.6%.
The relatively positive reaction came after the Fed raised on Wednesday the U.S. benchmark rate by 0.25 percentage point, to a range of 3.75% to 4% per year. This was the first increase since July 2023, and the decision was unanimous.
Despite the fact that higher interest rates typically reduce appetite for risky assets, the move was already widely expected. In addition, the Fed’s new projections indicated only limited additional tightening: the median of officials points to just one more 0.25 percentage-point hike still in 2026.
Jeff Ko, chief analyst at ViaBTC, told CoinDesk that the decision was already priced in and that the market interpreted the Fed’s signaling as an indication that, for now, there will not be an aggressive cycle of rate increases.
The move also shows up in traditional markets. S&P 500 and Nasdaq futures were up this morning, while short-term Treasury yields retreated after hitting their highest levels since 2024.
Bitcoin is trading higher this Thursday (17), recovering part of the losses from the past few days even after the (Fed) raised U.S. interest rates for the first time since 2023. The move follows an improvement in risk appetite across global markets, while Zcash surges more than 20% and leads by a wide margin among gains among major cryptocurrencies.
This morning, Bitcoin is up 1%, quoted at US$ 76.241 in 24 hours. In reais, the world’s largest cryptocurrency was at R$ 394.120, according to the Bitcoin Portal. ETH, in turn, rises 1.5%, to US$ 2.429. Meanwhile, XRP is up 1.2%, while Solana is up 3.4% and BNB gains 2.6%.
The relatively positive reaction came after the Fed raised on Wednesday the U.S. benchmark rate by 0.25 percentage point, to a range of 3.75% to 4% per year. This was the first increase since July 2023, and the decision was unanimous.
Despite the fact that higher interest rates typically reduce appetite for risky assets, the move was already widely expected. In addition, the Fed’s new projections indicated only limited additional tightening: the median of officials points to just one more 0.25 percentage-point hike still in 2026.
Jeff Ko, chief analyst at ViaBTC, told CoinDesk that the decision was already priced in and that the market interpreted the Fed’s signaling as an indication that, for now, there will not be an aggressive cycle of rate increases.
The move also shows up in traditional markets. S&P 500 and Nasdaq futures were up this morning, while short-term Treasury yields retreated after hitting their highest levels since 2024.
