Bitcoin has held around $77,000 as the crypto market waits for the Fed’s interest-rate decision this week. According to data shared by Fox News, the Federal Reserve is anticipated to increase interest rates by 25 basis points for September this week. Market experts now bet on a 90% likelihood of a rate hike at Wednesday’s Fed policy meeting.
After touching $81k last month on August 27, the asset slipped back to the $76k-$78k range, where it has hovered over the last two weeks. This retreat signals a cool-off in momentum after the recent market rally that helped it recover from a low of $59k to a high of $81k.
September rate decision shows high hike odds
Data shared today by Fox News revealed part of the reason for BTC’s retreat that saw it hold its value firmly around the $76,000-$78,000 region after recently pushing above $80,000 and climbing roughly to $81,200. Today, the token traded at $78,626, down 0.8%, and was down 0.0% over the past week and 14 days, showing firm consolidation in the region.
Trading around this level suggests the asset has been ‘holding its breath’ ahead of the Fed’s upcoming interest rate decision in September. This week, on Wednesday, September 16, the institution will announce its interest rate decision.
Over the last two weeks, the broader crypto market has been in a critical consolidation phase, with BTC holding firm around $77k while the wider rally paused, suggesting cautious optimism as volatility rises.
 
What’s next for Bitcoin?
Most experts expect the regulator to hike interest rates by 0.25% on Wednesday, and that decision could negatively affect the digital asset market. Market observers anticipate the central bank will raise rates by 25 basis points at its upcoming meeting this week, with the probability of a hike rising to 90% while the chances of keeping rates unchanged dropping to less than 10%. On Wednesday, the Fed will announce its interest-rate decision, with 90% of market watchers expecting a hike because inflation figures have risen. In August, inflation remained persistent, which could revive hike bets.
With the Fed meeting this Wednesday, the second half of September poses a major risk for Bitcoin and the crypto market. This difficult scenario could happen. When central banks raise interest rates, financial conditions tighten, and appetite for riskier assets decreases. As a result, crypto assets could feel renewed selling pressure. In short, rate hikes always threaten the crypto market, and such an event could send BTC down toward $70,000 and even lower.
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