Bitcoin holds steady as stocks slide after Fed's first rate hike in over three years
Bitcoin steady while stocks drop after Fed raises rates
Bitcoin held at a low level on September 16, 2026, while U.S. stocks fell after the Federal Reserve raised interest rates for the first time in more than three years. A press conference with Kevin Warsh followed the decision.
President Donald Trump responded on Truth Social, calling for U.S. interest rates to be cut to 1% or less.
Key points from the day's coverage
- The Federal Reserve raised interest rates in what was described as its first rate hike in more than three years.
- Bitcoin stayed steady at a low level, while U.S. stocks fell after the announcement.
- President Trump posted on Truth Social saying interest rates "should be 1%, or less" and urged the Fed to lower rates "fast."
- Trump argued the U.S. is "the Best Credit in the World" and suggested stopping trade with countries that run trade deficits with the U.S. could save at least $1.5 trillion a year.
- Privacy-focused token zcash (ZEC) climbed about 6% in the session, is up 130% over the past 30 days, and trades near its all-time highs from 2016.
- Other major cryptocurrencies, including bitcoin, ether, XRP, and solana, slid ahead of the Fed decision.
- The CoinDesk CD20 index, which tracks the broader crypto market, was up modestly during the coverage period.
What Trump's Truth Social post said
According to the source, Trump posted: "Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World." He added that stopping trade with countries the U.S. has a deficit with would generate "at least, 1.5 Trillion Dollars a year," and warned that it "cannot go on any longer" for the U.S. to "carry" other nations. His post closed with: "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!"
What is confirmed
- The Federal Reserve raised interest rates on September 16, 2026, the first such move in more than three years.
- U.S. stocks fell and bitcoin held steady after the announcement, according to CoinDesk's live coverage.
- President Trump publicly called on the Fed to lower rates on Truth Social.
- Zcash was up about 6% on the day, 130% over 30 days, and trading near its 2016 all-time high.
What is still unclear
The source is a truncated live updates feed, so the full details of the Fed statement, Kevin Warsh's press conference remarks, and the exact size of the rate hike are not included in the available material. The reason for zcash's surge and the long-term market reaction are also not explained in the supplied content.
Why this matters for crypto markets
Interest rate changes by the U.S. central bank affect the cost of borrowing across the economy and often influence the prices of riskier assets, including cryptocurrencies (digital currencies such as bitcoin). Higher rates can make traditional savings and bonds more attractive compared with crypto. The Fed's first hike in more than three years is a notable shift from its previous stance.