Bitcoin edges up above $76,305 after Fed interest rate hike
Business
Bitcoin bounced back a bit after the US Federal Reserve raised interest rates, which had sent crypto prices tumbling.
As of September 17, Bitcoin was trading just above $76,305, a slight daily uptick but still down for the week.
The ride's been bumpy thanks to both the rate hike and a lack of clear crypto rules in the US.
WazirX and Giottus warn Bitcoin risks
With Congress stalling on new digital asset laws, market nerves are high.
Rajagopal Menon, Vice President of WazirX, says higher rates could keep pressure on Bitcoin short term.
Vikram Subburaj, CEO of Giottus, suggests spreading out investments and keeping an eye on key levels: if Bitcoin drops below $75,000, it could slip further toward $71,300-$72,000.
Holding above $76,700 is seen as important for any real recovery.