TLDR
- Bitcoin fell below $76,000 after the US Federal Reserve raised rates by 25 basis points to 3.75-4%
- The Fed’s hike was its first since July 2023, ending three years of monetary easing
- US stocks recovered, with the Nasdaq gaining 1.5% and the S&P 500 up 0.9%
- CryptoQuant’s Bull Score Index dropped from 80 to 60 — the platform’s minimum threshold for bullish conditions
- Key support levels are $70,000 and the $62,000-$65,000 range, according to CryptoQuant
Bitcoin fell below $76,000 this week after the US Federal Reserve raised interest rates by 25 basis points. The decision pushed benchmark rates to a range of 3.75-4%.
It was the first rate hike since July 2023. The move ended three years of easing in which the Fed either cut rates or held them in the same range between meetings.
Bitcoin recovered from those lows, trading 0.5% higher on the day at the time of writing. BTC/USD had reached fresh month-to-date lows on Tuesday before bouncing.
Data from TradingView showed price volatility cooling over the last 24 hours. Only modest price moves were recorded on the one-hour chart.
Data from CoinGlass showed bid and ask liquidity thickening around the current spot price. That is a pattern typically seen in rangebound trading conditions.
US equities recovered on the day despite the rate hike. The S&P 500 gained 0.9% and the Nasdaq Composite Index climbed 1.5%.
Trading resource The Kobeissi Letter commented on the equity rebound in a post on X. “The asset owner economy just keeps getting better,” it wrote, pointing to the Nasdaq’s gains as evidence that asset holders were continuing to benefit despite tighter monetary conditions.
Central banks beyond the Fed were also tightening. The European Central Bank raised rates by 0.25% last week.
The Bank of Japan is expected to announce its own rate hike on Friday. That would make three major central banks raising rates within days of each other.
BTC Bull Score Drops to 60
CryptoQuant’s Bull Score Index, which tracks Bitcoin price cycles, dropped from 80 to 60. The platform marks 60 as the lower limit of what it defines as bullish conditions.
Julio Moreno, head of research at CryptoQuant, shared the firm’s view in a weekly report sent to Cointelegraph. “The trend is still bullish, but momentum and macro are working against it near-term,” he wrote.
Moreno pointed to fading US demand for Bitcoin and rising altcoin inflows as short-term headwinds. The delayed CLARITY Act and the Fed hike were also cited as reasons for expected consolidation.
Key Support Levels to Watch
CryptoQuant’s report flagged two support zones for traders to monitor. Those levels are $70,000 and the $62,000-$65,000 range.
Moreno’s full summary read: “Bitcoin is cooling, not turning. A Bull Score of 60 keeps the trend bullish, but fading US demand, rising altcoin inflows, and a week of macro risk — the delay of the CLARITY Act and a likely Fed hike — argue for consolidation.”
Bitcoin’s August rally had totaled 25% before the current cooling phase began. Macro conditions have since acted as a short-term obstacle to any continuation of that move.
CryptoQuant’s Bull Score Index stood at 60/100 as of Thursday.
The plan for $BTC hasn’t changed.
I still believe BTC will form a higher low before making its next leg towards 90K. However, that move may not begin directly from the current wick.
Typically, after the market makes a strong move upwards, it consolidates, establishes a range… https://t.co/vaAAavPFL6 pic.twitter.com/HajAIDt8XE
— Killa (@KillaXBT) September 17, 2026
Crypto analyst Killa (@KillaXBT) believes BTC will form a higher low before pushing toward $90K, but warns the move may not come directly from current levels. He says BTC could range for longer, with a potential dip into the low $70Ks acting as the true bottom before continuation. He calls it a textbook liquidity cycle — shake out traders, then make the real move.
