Bitcoin Holds Near $76,000 After Fed Hike

Published: 2026-09-18 03:31:51 |

Bitcoin held near $76,000 after the US Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00%, its first hike since July 2023. Bitcoin briefly reached $76,900 before settling up about 0.5%, while the Nasdaq rose 1.7% and the S&P 500 gained 1.15%. Lower Treasury yields and a rebound in US equities supported risk appetite, although Bitcoin underperformed the 1.5% gain in the CoinDesk 20 Index. Crypto market volatility remained elevated. About 86,816 traders were liquidated over 24 hours, involving $345 million in positions. Short liquidations totalled $208 million, compared with $137 million for longs. Ether liquidations reached nearly $89 million, followed by Bitcoin at $85 million and Zcash at $56 million. Zcash rose more than 17% to almost $1,358, while Solana and Hyperliquid gained about 3%. The US Securities and Exchange Commission also introduced its long-awaited innovation exemption, creating a potential route for blockchain-based venues to offer tokenised securities. The framework could benefit Ethereum, Solana and Avalanche, while enabling trading against stablecoins and tokenised money-market funds. Crypto-related shares, including Coinbase, Circle, Robinhood and Securitize, rose after the announcement. For Bitcoin traders, the short-term backdrop is moderately positive because equities strengthened, bond yields fell and short covering supported Bitcoin. However, Bitcoin’s momentum is weakening. CryptoQuant’s Bull Score Index fell from 80 to 60, while fading US demand, rising altcoin inflows and broader macroeconomic risks could limit gains. Key support levels are around $70,000 and $62,000-$65,000. High oil prices, Middle East tensions and continued Fed tightening remain risks, and Bitcoin’s failure to outperform equities suggests that crypto-specific buying momentum is still limited.

Neutral

The immediate price backdrop for Bitcoin is mildly supportive. US equities rallied, Treasury yields fell and short covering helped Bitcoin recover after an initial decline. The Fed’s innovation exemption may also improve the long-term outlook for blockchain adoption and tokenised markets. However, the direct impact on Bitcoin remains mixed. Bitcoin gained only about 0.5% and underperformed broader crypto assets and US equities, indicating limited crypto-specific momentum. The large volume of liquidations shows that leverage remains elevated, which could increase short-term price swings. CryptoQuant’s Bull Score Index has fallen to 60, while weakening US demand, altcoin inflows, high oil prices, geopolitical tensions and further Fed tightening could restrict upside. Bitcoin’s support near $70,000 and $62,000-$65,000 will be important if risk appetite weakens. Overall, the news is unlikely to establish a decisive trend, so the expected impact on Bitcoin is neutral.