Fed raised rates 25bp to 3.75%–4%, first hike since 2023; BTC dipped to $75,700 then recovered to $76,400 as market absorbed the move.
Macro & Markets ·
The Federal Reserve raised interest rates by 25 basis points to 3.75%–4% on September 17, its first increase since July 2023, with forward guidance suggesting only one additional move through 2027. Bitcoin traded at $76,621, up 0.88% over 24 hours, as risk assets broadly rallied on the committee's dovish projection; the broader crypto market followed equities higher, with 94 of 100 CoinDesk 100 constituents advancing and the small-cap CoinDesk 80 gaining 4.7%. Crypto derivatives positioning strengthened, with aggregate open interest climbing to $64.4 billion and a long/short ratio of 1.13 favoring bullish traders, though U.S. spot bitcoin ETFs continued outflows of nearly $296 million on the day.