[Grayscale: This Federal Reserve Rate Hike Differs from the 2022 Tightening Cycle] Odaily Planet Daily News – In an analysis published on September 17, digital asset management company Grayscale stated that the latest Federal Reserve rate hike is closer to a 'mid-cycle adjustment' rather than a significant monetary policy shift. On September 16, the Federal Open Market Committee of the Federal Reserve raised the target interest rate range by 25 basis points to 3.75%-4%, stating that the hike aims to bring inflation back to the 2% target more promptly. Grayscale believes that this rate hike, along with a potential second hike later this year, is unlikely to cause significant changes in the digital asset market. Grayscale pointed out that from March 2022 to July 2023, the Federal Reserve cumulatively raised rates by 525 basis points, with sustained tightening increasing returns on cash and interest-bearing assets while raising the opportunity cost of holding Bitcoin. The current environment, however, involves a single rate hike following years of rate hikes, cuts, and pauses. Grayscale noted that the impact of rate hikes will vary depending on crypto business models. Stablecoin issuers could benefit from increased interest income on reserve assets, while the higher yields of tokenized bonds and money market funds may attract capital inflows into on-chain financial products. On September 17, Bitcoin briefly surged past $77,000, with short positions in the crypto market liquidated to the tune of nearly $260 million during the rebound. (Bitcoin.com News)