Bitcoin posted modest gains on Thursday as US stocks recovered following the Federal Reserve’s first interest-rate increase since July 2023.
Bitcoin (BTC) traded close to $76,500 after Wall Street opened. Meanwhile, investors moved back into US equities following the recent market pullback.
Bitcoin Consolidates After Fed Rate Hike
Bitcoin stabilized after briefly falling below $76,000. The decline followed the Federal Reserve’s decision to raise interest rates by 25 basis points.
At the same time, US stock markets moved higher. The technology-focused Nasdaq Composite gained around 1.5%, while the S&P 500 advanced roughly 0.9%.
Bitcoin market indicators also remained relatively constructive. CryptoQuant’s Bull Score Index stood near 60 out of 100, keeping BTC close to the threshold it associates with bullish market conditions.
Bitcoin Volatility Cools Near $76,500
TradingView data showed that Bitcoin volatility had eased over the previous 24 hours. BTC recorded relatively small price movements as traders targeted liquidity close to the current market price.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
CoinGlass data also showed growing bid and ask liquidity around Bitcoin’s spot price.
This type of liquidity structure is often associated with rangebound trading. It suggests buyers and sellers are becoming more active around the same price area rather than pushing BTC into a clear directional move.
BTC/USDT liquidation heatmap (Binance). Source: CoinGlass
US Stocks Rebound After Federal Reserve Decision
US equities recovered as investors looked to take advantage of the previous decline caused by tighter Federal Reserve policy.
The S&P 500 gained approximately 0.9% during the session, while the Nasdaq Composite climbed about 1.5%.
Nasdaq Composite Index one-day chart. Source: Cointelegraph/TradingView
On Wednesday, the Federal Reserve voted to increase its benchmark interest-rate range by 25 basis points to 3.75%–4%.
The decision marked the Fed’s first rate increase since July 2023. It also brought an end to a roughly three-year period in which policymakers either reduced interest rates or kept them unchanged between meetings.
Global Interest Rates Move Higher
The Federal Reserve is not the only major central bank moving toward tighter monetary policy.
The European Central Bank raised rates by 25 basis points the previous week, while the Bank of Japan was also expected to make its next policy decision on Friday.
Higher interest rates can reduce liquidity across financial markets. However, some analysts believe risk assets could continue to perform well despite tighter monetary conditions.
Trading resource The Kobeissi Letter pointed to the Nasdaq’s recovery as evidence that asset prices could remain resilient even as borrowing costs rise.
Bitcoin Price Trend Remains Bullish
Bitcoin also found some relief after falling to a new monthly low on Tuesday.
At the time of writing, BTC/USD was approximately 0.5% higher for the day as buyers attempted to stabilize the market.
However, on-chain analytics firm CryptoQuant warned that macroeconomic conditions could make it harder for Bitcoin to extend its previous rally.
BTC had gained roughly 25% during August before momentum began to weaken.
CryptoQuant research head Julio Moreno said the broader Bitcoin trend remained bullish, although weaker momentum and macroeconomic uncertainty could limit price growth in the short term.
CryptoQuant Bull Score Falls to 60
CryptoQuant’s Bull Score Index fell from 80 to approximately 60.
The indicator is designed to track different factors affecting Bitcoin market cycles. A reading of 60 represents an important threshold between stronger bullish conditions and a potentially weaker market environment.
According to CryptoQuant, Bitcoin appears to be cooling rather than entering a confirmed bearish reversal.
However, several factors could encourage further consolidation. These include softer US demand, increasing capital flows into altcoins, changing monetary policy and broader macroeconomic uncertainty.
The analytics firm highlighted $70,000 as an important Bitcoin support area. It also identified the $62,000–$65,000 region as another potential support zone if selling pressure increases.
Bitcoin Traders Watch for the Next Major Move
For now, Bitcoin remains close to $76,500 while US equities recover from their recent decline.
BTC’s broader trend continues to show bullish characteristics, but weakening momentum and higher interest rates could keep the cryptocurrency trading within a range in the near term.
Traders will therefore be watching whether Bitcoin can regain stronger upward momentum or whether consolidation continues around current levels.
