The Fed raises interest rates for the first time in three years, officials hint it's not over yet What the market truly fears isn't the 25 basis points, but the fact that 16 officials expect at least one more hike this year. If the tightening path continues, BTC liquidity pressure could increase. Rate hike 25 basis points → Expectation of another hike this year → Bond yields rise → BTC under pressure bitcoin:native Short-term risk: High