Bitcoin is trading around $76,600–$76,900 after the Federal Reserve delivered its first rate hike since 2023, raising the federal funds range by 25 basis points on a unanimous 12-0 vote and projecting a year-end rate of 4.1%, with 16 of 18 officials expecting at least one more hike this year. Despite the hawkish tilt, Bitcoin actually rallied through the decision as risk assets focused more on the Fed's forward guidance than the hike itself, with the Nasdaq 100 climbing 1.7% and gold gaining 1.02% in a broad "sell the rumor, buy the news" reaction.
The relief was short-lived at the fund level, however: spot Bitcoin ETFs lost $450.4 million on the day before the hike and another $295.9 million the day after, totaling $746.3 million in outflows over two sessions — the largest such stretch since June. Fed Chair Kevin Warsh cited a strong economy, above-target inflation, and Middle East tensions as justification for the move, while prediction markets remain split on whether a second hike arrives as soon as October.
#Bitcoin #BTC #FedRateHike #CryptoETF #CryptoMarket
The relief was short-lived at the fund level, however: spot Bitcoin ETFs lost $450.4 million on the day before the hike and another $295.9 million the day after, totaling $746.3 million in outflows over two sessions — the largest such stretch since June. Fed Chair Kevin Warsh cited a strong economy, above-target inflation, and Middle East tensions as justification for the move, while prediction markets remain split on whether a second hike arrives as soon as October.
#Bitcoin #BTC #FedRateHike #CryptoETF #CryptoMarket
