Fed Raises Rates for First Time Since 2023, Bitcoin Swings Then Settles Near $76,500
The Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00% in its first hike since 2023, sending Bitcoin on a brief wild swing before it settled near $76,500.
Why it matters
The rate hike and guidance for another potential increase in 2026 signal the Fed's shift from pause to tightening, raising the opportunity cost of holding non-interest-bearing assets like Bitcoin. Traditional markets also reacted, with the Dow falling 1.2% and the 10-year Treasury yield topping 5% for the first time since 2007 before equities rebounded the next day.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported value
93%
Decrypt
18%
Bitcoin Magazine
Decrypt reports 93%, Bitcoin Magazine reports 18% (81% apart).
reported value
$75,500
Decrypt
$64,000
CryptoPotato
Decrypt reports $75,500, CryptoPotato reports $64,000 (15% apart).
reported value
$64,000
CryptoPotato
$76,581
Bitcoin Magazine
CryptoPotato reports $64,000, Bitcoin Magazine reports $76,581 (16% apart).
Key facts
The Federal Reserve raised the benchmark interest rate by 25 basis points to a target range of 3.75%-4.00%.
25 bpsReported by U.Today
Traders had priced in a 93% probability of a rate hike heading into the decision, per CME's FedWatch tool.
93 %Disputed figureReported by Decrypt
Bitcoin dropped to an intraday low of $75,242 on the Bitstamp exchange shortly after the announcement.
75,242 USDReported by U.Today
Bitcoin recovered and traded near $76,300-$76,500 by Thursday, roughly flat on the day.
76,500 USDReported by Cointelegraph
The Dow Jones Industrial Average fell approximately 1.2% and the S&P 500 slid 0.4%-0.5% on Wednesday following the rate hike.
1.2 %Reported by Decrypt
The Nasdaq Composite Index gained 1.5% on Thursday as US equities rebounded.
1.5 %Reported by Cointelegraph
What happened
The Federal Open Market Committee unanimously raised the benchmark interest rate by 25 basis points to a target range of 3.75%-4.00% on September 16, its first increase since 2023. The move was widely anticipated, with traders pricing in a 93% probability ahead of the decision. Bitcoin dropped below $75,000 immediately after the announcement but recovered within hours, stabilizing near $76,300-$76,500. Fed Chair Kevin Warsh said the economy 'has indeed strengthened' and that inflation remains 'the problem,' declining to comment on President Donald Trump's reaction. Analysts remained divided on the outlook: Grayscale's head of research Zach Pandl called the hike a 'mid-cycle adjustment' and said he doubts one or two rate hikes in 2026 will significantly affect capital allocation, while other analysts flagged the Short-Term Holder Realized Price near $71,200 as a key support level to watch. The FOMC's latest median forecast indicates policymakers anticipate one additional 25-basis-point hike before the end of 2026.
How the story developed
- Update
Federal Reserve raises interest rates for first time since 2023
The FOMC unanimously voted to raise the benchmark rate by 25 basis points to 3.75%-4.00%.
- First report
First report by U.Today
Bitcoin (BTC) Reacts to First Rate Hike in Years
- Independent corroboration
Independently corroborated by Decrypt
Fed Hikes Rates for the First Time Since 2023, Bitcoin Spikes
- Official statement
Fed Chair Kevin Warsh holds post-meeting press conference
Warsh said the economy 'has indeed strengthened' and called inflation 'the problem,' declining to comment on Trump's reaction.
- Update
Bitcoin stabilizes near $76,500 as US equities rebound
The Nasdaq Composite gained 1.5% on Thursday and Bitcoin consolidated near $76,500 with cooling volatility.
- Official statement
Grayscale issues note calling rate hike a mid-cycle adjustment
Grayscale head of research Zach Pandl wrote that the hike was not a cyclical change and doubted one or two rate hikes in 2026 would meaningfully affect capital allocation.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 16 Sept 2026, 18:00 UTC: U.Today — 1 independent source, 1 reports
- 16 Sept 2026, 18:15 UTC: Decrypt — 2 independent sources, 2 reports
- 17 Sept 2026, 06:44 UTC: Brave New Coin — 3 independent sources, 4 reports
- 17 Sept 2026, 08:29 UTC: CryptoPotato — 4 independent sources, 5 reports
- 17 Sept 2026, 16:22 UTC: Cointelegraph — 5 independent sources, 6 reports
- 17 Sept 2026, 21:08 UTC: Bitcoin Magazine — 6 independent sources, 8 reports
Affected entities
Also mentioned: Nasdaq, Grayscale, Solana, Binance, Tether USDt, Goldman Sachs, JPMorgan
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| U.Today Crypto media | Bitcoin (BTC) Reacts to First Rate Hike in Years | Original | |
| Decrypt Crypto media | Fed Hikes Rates for the First Time Since 2023, Bitcoin Spikes | Independent | |
| Decrypt Crypto media | Fed Chair Implies Trump Is Only Half Right on the Economy Following Rate Hike | Independent | |
| Cointelegraph Crypto media | Bitcoin coils near $76.5K as US stocks rebound from Fed rate hike | Independent | |
| Decrypt Crypto media | Bitcoin Bounces as Markets Brace for the Fed’s Next Move | Independent | |
| Bitcoin Magazine Crypto media | Bitcoin Price Unlikely To Be Bothered by Interest Rate Hike: Grayscale | Independent | |
| Brave New Coin Crypto media | XRP Price Prediction: FOMC Rate Hike Sparks Short Covering as XRP Reclaims $1.30 Support | Independent | |
| CryptoPotato Crypto media | Bitcoin (BTC) Reacts to Fed Rate Hike: Analysts Split on What Comes Next | Independent |
Related events
CLARITY Act Faces Fading Bipartisan Support Ahead of September 15 Senate Cloture Vote
Republican senators warn the CLARITY Act may fail a Sept. 15 procedural vote as ethics disputes, scheduling constraints, and eroding bipartisan support threaten passage before midterm elections.
CFTC submits crypto market framework for White House review after CLARITY Act stalls
The CFTC sent a prerule on crypto asset transactions and markets to the White House for review on Sept. 17, days after the Senate killed the CLARITY Act.
CLARITY Act Fails Cloture Vote as State AGs Challenge Bill Before Senate Showdown
CLARITY Act's Senate procedural vote failed 49-50 after 18 attorneys general challenged the bill, and its path forward remains uncertain.
US Added 162,000 Jobs in August as Trump Demands Fed Rate Cuts
US employers added 162,000 jobs in August, prompting President Trump to demand lower interest rates.