Bitcoin coils near $76.5K as US stocks rebound from Fed rate hike
Bitcoin traded around $76,500 after the Wall Street open as US stocks rebounded from recent weakness. BTC volatility eased, with liquidity building on both sides of spot price, suggesting rangebound trading. The S&P 500 rose 0.9% and the Nasdaq gained 1.5% after investors bought the dip despite the Federal Reserve’s 25 bps rate hike to 3.75%–4%, its first since July 2023. Bitcoin recovered slightly after hitting new monthly lows earlier in the week and was up about 0.5% on the day. CryptoQuant said the broader BTC trend remains bullish, but momentum is weakening as macro conditions, fading US demand, and rising altcoin inflows pressure the market. Its Bull Score Index fell from 80 to 60, still above bearish territory but signaling cooling conditions. Key support levels cited were $70,000 and the $62,000–$65,000 range.
