Morning Minute: Crypto Rebounds After The Fed’s First Hike Since 2023
The Fed raised rates 25 bps to 3.75%–4.00%, its first hike since 2023, and signaled inflation remains too high despite a resilient economy and strong labor market. Markets sold off initially, with stocks down and Treasury yields up, but crypto quickly recovered. Bitcoin moved from about $75,700 to $76,300, while ETH, SOL, and Hyperliquid were also green. Altcoins outperformed: ZEC hit a new high and rose 12%, NEAR gained 15%, LIT rose 12%, and VVV climbed 12%. The main takeaway is that crypto absorbed both the rate hike and the failed Clarity Act vote without major downside, suggesting stronger underlying demand and a more risk-on tone. That resilience is being read as evidence the market may have already priced in recent pain, with signs the bottom could be in.
