Bitcoin Gains About 13% From Approximate Price on Fed Hike Day

Bitcoin (BTC) was up roughly 13% from its approximate price on the day of the Federal Reserve’s Sept. 16 rate increase to an Oct. 2 snapshot, though the comparison does not establish that the decision drove the move.

Bitcoin traded at about $75,600 on Sept. 16 and around $85,500 in the Oct. 2 snapshot. The roughly 13% increase uses those approximate prices rather than the listed daily closing prices.

The Fed’s policy committee voted 12-0 to raise its target range by a quarter percentage point, to 3.75%-4%. Historical listings put Bitcoin’s Sept. 16 close at either $76,150.32 or $75,633.1; using those closes produces a smaller increase than the approximate-price comparison.

The Fed’s next scheduled meeting is Oct. 27-28.