Bitcoin Coils Near $76.5K as Fed Hike Fades
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Bitcoin is consolidating just under $76.5K following the Federal Reserve's first rate hike since July 2023, with the tight coiling pattern suggesting traders are waiting for a fresh catalyst before committing to a direction.
The muted reaction contrasts with US equities, which posted a rebound in the immediate aftermath of the hike, hinting that risk appetite hasn't fully rotated back into crypto yet.
A decisive break above or below the current coil could set the tone for BTC's next leg, with volatility likely to pick up as macro traders digest the Fed's tightening path.