Bitcoin hovers near $76.5K as US equities rebound after Fed rate hike

Bitcoin (BTC) traded around $76,500 following a modest rise on Thursday, as US equity markets recovered after the Federal Reserve’s 0.25% rate increase.

Market backdrop

The Fed raised its benchmark rate by 25 basis points to a range of 3.75‑4.0%, marking its first hike since July 2023 and ending three years of easing. The move coincided with gains in major US indexes: the S&P 500 rose 0.9% and the Nasdaq Composite gained 1.5%.

Bitcoin price action

After slipping below $76,000, Bitcoin consolidated near $76.5K, posting a 0.5% daily increase. TradingView data showed reduced volatility and range‑bound liquidity around the current price.

On‑chain and technical indicators

CryptoQuant’s Bull Score Index, a proprietary metric for Bitcoin cycles, fell from 80 to 60, staying above the bullish threshold but indicating fading momentum. The platform noted that macro factors—such as reduced US demand and rising altcoin inflows—could pressure Bitcoin toward support levels around $70K and $62K‑$65K.

Outlook

Analysts described the price movement as “cooling, not turning,” suggesting continued bullish bias but potential consolidation amid macro‑risk considerations.