Indodax highlights Bitcoin response amidst tight Fed policy

Domestic crypto asset market players are highlighting Bitcoin’s response to the Federal Reserve’s decision to raise the benchmark interest rate by 25 basis points (bps) to the 3.75–4.00 per cent range.

According to Indodax Chief Marketing Officer, Aloysia Dian, the decision made during the Federal Open Market Committee (FOMC) meeting on 15–16 September 2026, did not immediately suppress Bitcoin (BTC). Instead, the price rose from approximately US$75,400 prior to the announcement to the US$76,000 area after the decision was released on Thursday (17/9).

“This BTC response shows that the relationship between macroeconomic policy and crypto asset prices does not always occur directly,” she stated in a briefing in Jakarta on Friday.

Interest rate policy remains a crucial factor, but it is not the sole driver of the crypto market, she continued. Price reactions are also influenced by pre-existing expectations, capital flows, sentiment, and specific developments within the crypto industry.

Aloysia explained that leading up to the FOMC decision, the market had already priced in a high probability of an interest rate hike. When the final result aligned with expectations, much of the pressure could be said to have been reflected prior to the announcement.

“In other words, decisions that have been widely anticipated by the market do not always result in additional negative reactions,” she said.

Nevertheless, she noted that although Bitcoin strengthened following the announcement, the direction of the Fed’s policy remains one of the key factors the market must monitor.