Bitcoin Coils Near $76.5K Amidst Stock Market Rebound
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Written by
Simonas Brazionis - Updated 2026-09-20 18:55:58
Bitcoin is consolidating after a recent dip, with Bitcoin coils near $76.5K following a rebound in US stock markets. This stabilization occurred after Bitcoin fell below $76,000 in the wake of a 0.25% interest-rate hike by the US Federal Reserve.
US equities have shown a resurgence, with the Nasdaq Composite Index increasing by 1.5%. Bitcoin price analysis maintains a bullish outlook, with CryptoQuant’s Bull Score Index at 60/100, suggesting a continuation of the upward trend.
Market Response to Fed Rate Hike
TradingView data indicates reduced BTC price volatility over the past 24 hours, with minor movements for liquidity capture. CoinGlass data shows increased bid and ask liquidity around the current spot price, typical of range-bound trading. US equities gained as investors capitalized on the market's downturn post-Fed tightening, with the S&P 500 and Nasdaq Composite seeing gains of 0.9% and 1.5% respectively.
The Fed raised benchmark interest rates by 25 basis points to 3.75-4% on Wednesday, marking the first hike since July 2023 and ending a three-year easing period. The Kobeissi Letter suggests assets will perform strongly despite anticipated lower liquidity from rate hikes. Central bank rates are rising globally, with the European Central Bank increasing rates by 0.25% last week and the Bank of Japan expected to follow suit.
Bitcoin's Bullish Outlook Amid Macro Headwinds
Bitcoin found relief after reaching new month-to-date lows earlier in the week. CryptoQuant noted that macro conditions challenge the continuation of Bitcoin's 25% rebound in August. The head of research at CryptoQuant stated that while the trend remains bullish, momentum and macro factors are currently unfavorable.
The Bull Score Index, tracking BTC price cycles, dropped from 80 to 60, with 60 being the bullish threshold. The report concludes Bitcoin is cooling, not reversing, maintaining a bullish outlook at 60. However, factors like declining US demand, increased altcoin inflows, and macro risks such as the CLARITY Act delay and likely Fed hikes suggest a consolidation period. Key support levels to watch are $70,000 and the $62,000–$65,000 range.
