Bitcoin (BTC) traded above $76,000 on Wednesday as the Federal Reserve (Fed) raised its benchmark interest rate by 25 basis points, bringing the federal funds target range to 3.75%-4.00%. The unanimous 12-0 decision marked the Fed’s first rate hike since July 2023.

Fed prioritizes inflation despite pressure for rate cuts

The Federal Open Market Committee (FOMC) said economic activity has continued to expand at a solid pace, while inflation remains elevated. The committee said the latest policy action would support a “timelier return” to its 2% inflation target.

The unanimous decision also marked the first such vote since May 2025, according to The Kobeissi Letter. The move came despite repeated calls from President Donald Trump for…