Federal Reserve Raises Rates for First Time Since 2023, Bitcoin Moves Higher

The U.S. Federal Reserve announced a rate increase, marking its first hike since 2023. Wall Street had largely anticipated the move, and the news was reflected in cryptocurrency markets.

Bitcoin’s Price Action

Bitcoin was quoted at $75,826.00. The price change listed was a modest decline of 0.98%, but the broader market narrative highlighted a spike in interest following the Fed decision.

Performance of Other Major Coins

• Ethereum (ETH) – $2,403.28, down 0.97%
• Binance Coin (BNB) – $715.50, down 0.82%
• Ripple (XRP) – $1.28, down 7.91%
• Solana (SOL) – $97.81, down 1.73%
• Dogecoin (DOGE) – $0.0796, down 2.59%
• Cardano (ADA) – $0.1933, down 4.12%
• Polkadot (DOT) – $0.9761, down 0.21%
• Chainlink (LINK) – $10.79, down 4.16%

Stablecoins Remain Near Parity

Major stablecoins such as USDC, USDT, and USDP stayed close to the $1.00 mark, with changes ranging from -0.01% to +0.23%.

Market Context

The rate hike was expected by most analysts, and its impact on crypto prices was muted compared with traditional equity markets. While Bitcoin’s price showed a slight dip in the snapshot, the overall sentiment was that the digital asset retained resilience amid monetary tightening.