Cryptos Gain After Fed Rate Hike

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Cryptos Gain After Fed Rate Hike

By Avila Sebastian ✉

| Published: 9/17/2026 10:31 AM ET

Addas your preferred news source on Google

Cryptocurrencies rallied during the past 24 hours while global markets digested the widely expected quarter percentage rate hike by the Federal Reserve. The retreat in crude oil prices as well as the easing in bond yields bolstered market sentiment. Aggregate market capitalization increased more than a percent while Bitcoin touched a 24-hour high of $77,079.

The Federal Reserve on Wednesday unanimously decided to raise the target range for the federal funds rate by quarter percentage point to 3.75 - 4 percent. The FOMC acknowledged that inflation was elevated and committed itself to delivering price stability.

In the Summary of Economic Projects released simultaneously, the Fed raised the GDP growth projection for 2026 to 2.3 percent from 2.2 percent projected in June. The unemployment rate projection has been lowered to 4.1 percent from 4.3 percent projected in June. The Fed expects PCE inflation to jump to 3.7 percent in 2026 from the level of 3.6 percent it had forecast in June. The core PCE is also projected to rise to 3.4 percent from the level of 3.3 percent it had projected at the time of the FOMC in June.

The Federal Funds rate is projected to rise to 4.1 percent in 2026, from 3.8 percent, the level that was anticipated while drawing up projections in June 2026. The projection of federal funds rate for 2027 has been raised to 4.1 percent from 3.6 percent projected in June whereas the projection for 2028 has been increased to 3.9 percent from 3.4 percent projected in June. The longer run projection has also been raised to 3.2 percent from 3.1 percent anticipated earlier.

In tandem, the CME FedWatch tool that tracks the expectations of interest rate traders, shows the likelihood of the Federal Funds rate remaining at the current level of 3.75-4.00 percent by the end of 2026 at 13.7 percent. It was 11.7 percent a day ago, 29.8 percent a week ago, and 45.4 percent a month ago.

Despite markets pricing in another rate hike before the end of the year, sentiment in crypto market remains upbeat. The CoinMarketCap's Fear and Greed Index, a measure of the sentiment prevailing in the cryptocurrency market remains steady at 64, implying a state of "greed".

Aggregate crypto market capitalization has gained 1.4 percent in the past 24 hours to $2.61 trillion. Among the top 100 cryptocurrencies, 75 are trading with overnight gains of more than a percent whereas 3 cryptocurrencies are trading with overnight losses of more than a percent.

Bitcoin (BTC), the largest cryptocurrency is currently trading 1.7 percent higher on an overnight basis at $76,692.28. The leading cryptocurrency has shed half percent over the course of the past week and is still saddled with year-to-date losses of 12.4 percent.

Bitcoin Spot ETF products in the U.S. witnessed net outflows declining to $296 million on Wednesday from $450 million on Tuesday. iShares Bitcoin Trust ETF (IBIT) topped with net outflows of $144 million.

Bitcoin is continuing in the 13th position in the global ranking of all assets as per market capitalization published by . The leading cryptocurrency is positioned between 12th ranked Broadcom and 14th ranked Tesla.

Ethereum (ETH) is trading 3.4 percent higher at $2,467.20. The leading alternate coin has gained 1.4 percent over the course of the past week.

Ethereum Spot ETF products in the U.S. witnessed net outflows rising to $224 million on Wednesday from $142 million on Tuesday. iShares Ethereum Trust ETF (ETHA) topped with net outflows of $110 million.

Ethereum has improved one notch to the 63rd position in the global ranking of all assets as per market capitalization published by .

4th ranked BNB (BNB) rallied 2.3 percent overnight resulting in price increasing to $725.85.

5th ranked XRP (XRP), a payments-focused cryptocurrency added 2.4 percent overnight and is currently trading at $1.30.

The price of 7th ranked Solana (SOL) surged 3.8 percent overnight to $100.57. U.S.-listed Solana Spot ETF products witnessed net inflows of $1 million on Wednesday.

TRON (TRX) ranked 8th overall is currently trading 0.07 percent lower at $0.3341.

9th ranked Zcash (ZEC) jumped to record an overnight surge of 11.6 percent. The cryptocurrency is currently trading at $1,392.70.

10th ranked Hyperliquid (HYPE) is trading 4.6 percent higher on an overnight basis, at $81.94. U.S.-listed Hyperliquid Spot ETF products witnessed net inflows of $2 million on Wednesday.

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