Federal Reserve raised interest rates by 25 basis points, as expected. Higher interest rates may temporarily decrease demand for cryptocurrencies as investors turn to traditional assets. However, Bitcoin's recognition as an inflation hedge and safe-haven asset could stabilize its price in the long run. The current sideways trading pattern indicates little impact from the rate hike. Technical analysis shows resistance at $29,550 and support at $28,850. Traders should perform thorough analyses before making decisions due to market volatility. Remember the risks and research before investing in cryptocurrencies.