Bitcoin coils near $76.5K as US stocks rebound from Fed rate hike
Bitcoin made modest daily gains as US stocks saw upside in the aftermath of the US Federal Reserve’s first interest-rate hike since July 2023.
Bitcoin made modest daily gains as US stocks saw upside in the aftermath of the US Federal Reserve’s first interest-rate hike since July 2023.
Bitcoin (BTC) traded near $76,500 after Thursday’s Wall Street open as investors snapped up US stocks following their recent dip.
Data from TradingView showed that BTC price volatility was cooling over the last 24 hours, with only modest moves to take nearby liquidity.
Commenting, trading resource The Kobeissi Letter suggested that assets would continue to perform strongly despite the prospect of lower-liquidity conditions associated with the rate hikes. As Cointelegraph reported, central-bank rates are notching higher globally, as the European Central Bank hiked by 0.25% last week and the Bank of Japan is expected to follow suit on Friday.