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The Economic Times
The Economic Times
Business
Surbhi Khanna

Bitcoin near $76,000 as Fed hikes rates; hawkish tone and $592 million ETF outflows pressure crypto

Bitcoin Crypto ETF US Federal Reserve Ethereum Riya Sehgal

Bitcoin traded near the $76,000 mark after the Fed delivered a 25 basis point rate hike for the first time since 2023 and ETF demand also weakened sharply, with Bitcoin and Ethereum funds seeing combined outflows of nearly $592 million in a single day. The cryptocurrency was trading at $76,431.

In the past 24 hours, Bitcoin was up 0.74% and Ethereum was up 1.44% to trade at $2,436. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, Cardano gained upto 3.75%.

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