Bitcoin (BTC) Reacts to Fed Rate Hike: Analysts Split on What Comes Next

Bitcoin's reaction may depend less on this rate hike and more on whether the Fed continues tightening monetary policy. Bitcoin and crypto markets turned volatile on Wednesday after the US Federal Reserve raised interest rates by 25 basis points. The Fed lifted its target range to 3.75%-4%. The move was widely expected, but BTC still briefly dropped below $75,000 before recovering to around $76,400. Analysts remain divided on what could come next. BTC Recovers After Fed Shock Doctor Profit dismissed the bearish reaction. According to the analyst, Bitcoin’s bottom was already in at $57,000. He also said he is holding the BTC he bought between $60,000 and $64,000 and has no plans to sell. Earlier, the market commentator had pointed to $71,000 as the market’s “max pain” level while maintaining a bullish outlook toward $88,000. Meanwhile, Ali Martinez also said he is prepared for another sell-off. While identifying Bitcoin’s Short-Term Holder Realized Price near $71,200 as a major level to watch, the analyst explained that he would consider that area a potential accumulation zone if BTC falls further. Santiment, on the other hand, flagged a sharp rise in social discussions around the FO...