Bitcoin Recovers to $76,500 After Fed Rate Hike

Bitcoin (BTC) has recovered to $76,500 after the U.S. Federal Reserve raised its benchmark interest rate. The Fed announced on September 16 (local time) that it increased the rate by 25 basis points, raising the target range to 3.75%-4.00%. This marks the first increase since 2023. BlockBeats reported that after the rate hike became a reality, the cryptocurrency market showed signs of recovery with Bitcoin surpassing $76,500.