Bitcoin fluctuated within a narrow range as the market digested the impact of the Federal Reserve's interest rate hike and the situation in the Middle East

On Thursday, Bitcoin fluctuated within a narrow range as the market digested the impact of the Federal Reserve's decision to raise interest rates. At the same time, continued tension in the Middle East also kept investors vigilant.

Bitcoin, the world's largest cryptocurrency by market capitalization, rose 0.6% to $76,491.7 at 2:35 a.m. Eastern Time (14:35 p.m. Beijing time). The reaction to the Federal Reserve's decision to raise interest rates the night before was relatively muted.

The overall cryptocurrency market also showed a slight upward trend, but it was already under certain pressure before the Federal Reserve decision was announced. In addition, the U.S. Senate failed to pass an important cryptocurrency regulatory bill, which impacted market sentiment this week.