Rate Hike Not Expected to Derail Bitcoin Momentum — Market Talk
The late-summer rebound in bitcoin hit a wall in trying to stay above the $80k mark, but the Federal Reserve's interest rate hike isn't expected to be the catalyst that holds bitcoin prices back. "We believe yesterday's move was a mid-cycle adjustment, not a cyclical change," says Zack Pandl of Grayscale Research in a note. "And we doubt the one or two rate hikes expected for 2026 will lead to much change in capital allocation." Pandl harkens back to a similar occurrence in March 1997, when Alan Greenspan's Fed "did an analogous one-off hike… and the Nasdaq bull market kept rolling on." Bitcoin is up 0.7% to $76,669. ([email protected])