Bitcoin Surpasses $80,000 and Crypto Stocks Gain Despite Fed Rate Increase
Digital assets gained ground as markets absorbed a Federal Reserve interest rate hike and stalled congressional legislation.
Bitcoin advanced past the $80,000 threshold to trade near $80,940, posting a 5.5% gain over 24 hours. The price increase occurred despite headwinds in broader financial markets, where ten-year Treasury yields reached 5% and pressured nine of the eleven S&P 500 sectors into declines.
The cryptocurrency market also absorbed macroeconomic and political developments, including a 25-basis-point interest rate increase by the Federal Reserve to a 3.75%–4.00% range, which had been broadly anticipated by investors. Meanwhile, legislative efforts to pass the Clarity Act stalled in Congress, leaving digital asset oversight under existing regulatory frameworks.
Shares of digital asset-related companies rose alongside the cryptocurrency rebound. Strategy gained approximately 12%, Coinbase climbed near 10%, and Robinhood advanced around 8%, recovering from earlier declines tied to legislative delays and interest rate concerns.
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