Bitcoin showed little immediate reaction to the Federal Reserve’s rate increase and later traded around $76,000, while analysts pointed to a 2022 historical parallel and key downside support levels.
Bitcoin had little immediate reaction after the Federal Reserve’s unanimous rate-hike decision, holding near $76,000 before and after the announcement.
The post-decision move turned volatile
Bitcoin later traded at $76,621, up 0.88% over 24 hours in one market update, while another reported a nearly 3% 24-hour decline and a price of $76,300. A separate reading showed the cryptocurrency up 1.35% over 24 hours.
Why 2022 is back in the conversation
The comparison with 2022 is based on Bitcoin’s position when the Fed first raised rates in March that year: it was roughly 40% below its peak, then rallied about 18% over the following 12 days before subsequently falling around 50%. The historical pattern is a comparison, not a forecast.
The levels traders are watching
Bitcoin is about 40% below its October record high of $126,000. Reported support levels are $70,000 and the $62,000-$65,000 range, while chart analysts characterized a recent range breakdown as a bearish signal.
Positioning remains uneven beneath the calm
Market structure was mixed after the rate increase. Bitcoin saw approximately $82 million in net selling through perpetual futures over the past hour, alongside around $15.5 million in net spot buying. About 2,170 Bitcoin moved onto exchanges, followed by a withdrawal of 1,260 Bitcoin.