Fed Hikes Rates by 25bps; Bitcoin Holds Steady at $76,000

The U.S. Federal Reserve raised the federal funds rate by 25 basis points to a range of 3.75%-4.00%, with unanimous support from the FOMC. The Fed's updated dot plot indicates a higher long-term interest rate path, with the median projection for the end of 2026 raised to 4.1%. Fed Chair Kevin Warsh emphasized that current financial conditions are not yet sufficiently restrictive, suggesting further rate hikes may be necessary. While the market is debating whether the next hike will occur in October or December, Bitcoin remained resilient, holding near $76,000 despite a broader market reaction that saw U.S. Treasury yields and the dollar rise.