bolstered by two key factors: a less hawkish-than-expected monetary policy decision from the Federal Reserve and a significant legislative breakthrough for Bitcoin in Washington. The Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by 25 basis points—bringing the target range to 3.75%–4.00%—marking the first rate hike since 2023. However, the accompanying "dot plot" projection, which anticipates a median rate of 4.1% for both the end of 2026 and the end of 2027, signaled limited scope for further tightening—providing relief for risk assets overall.

Adding to the bullish momentum, the House Financial Services Committee passed the "American Reserve Modernization Act of 2026" by a vote of 28 to 21, advancing a bill that would grant the U.S. Strategic Bitcoin Reserve official legal status and mandate that the Treasury Department hold confiscated Bitcoin for at least 20 years. Separately, the House Ways and Means Committee overwhelmingly approved the first-ever federal tax framework for cryptocurrencies, reinforcing confidence that Washington is moving toward greater institutional legitimacy for digital assets.

In the broader market, stocks generally lacked clear direction: the S&P 500 remained virtually unchanged, while the NASDAQ posted only a marginal gain. This indicates that Bitcoin’s movement today was driven by crypto-specific catalysts rather than a general increase in risk appetite. The Fed’s dovish outlook on the interest rate trajectory also weighed on the US dollar; a weaker dollar has historically benefited Bitcoin as an alternative store of value. Open interest in cryptocurrency futures surged following the Fed’s decision, indicating that traders were opening new positions rather than merely closing out short positions.

Combined, the Fed’s signals regarding the end of the tightening cycle and Congressional progress on pro-Bitcoin legislation created a strong tailwind for BTC today, pushing it to a session high of $78,443—well above the previous session’s opening level of $76,687—and keeping it significantly above its 52-week low of $57,877, even though it remains far from its 52-week peak of $126,110.