The Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4%. The decision followed a unanimous 12-0 vote by the Federal Open Market Committee, with markets having priced in a 93% probability of the hike.
Bitcoin prices remained stable near $76 300 following the announcement. The total cryptocurrency market capitalization currently stands at $2.63 trillion, while the Crypto Fear and Greed Index has shifted to a neutral reading of 50.
Zcash experienced a significant surge, rising 23% to reach $1 425. This movement followed a disclosure by Paradigm co-founder Matt Huang regarding his firm's investment in ZEC and the Zcash Open Development Lab.
Other major assets showed mixed performance. BNB traded near $724, Solana reached $100, and XRP was priced at $1.29. Over the last 24 hours, the market recorded $373 million in liquidations, primarily affecting short positions.
The Federal Reserve projects the federal funds rate to reach 4.1% by the end of 2026. The next meeting of the committee is scheduled for October 27–28.
