Bitcoin rebounds as markets await further Federal Reserve rate decisions following the first hike since 2023.
Macro & Markets ·
The Federal Reserve raised its benchmark interest rate by 25 basis points to 3.75%-4% on Wednesday in a unanimous 12-0 decision, marking its first hike since July 2023. Bitcoin traded near $76,300 following the announcement, largely unchanged from prior levels as the overall crypto market remained stable above $2.6 trillion. Zcash emerged as the session's outlier, surging as much as 23% after Paradigm's co-founder disclosed the firm's holdings and characterized the token as a privacy-focused counterpart to Bitcoin.