This is why a 0.75% Fed rate hike could be huge for Bitcoin and altcoins.

The S&P 500 and Nasdaq Composite Index suffered their worst weekly performance since June as investors worried that the Federal Reserve would need to continue aggressive monetary policy to curb inflation, which could trigger a recession in the United States.

Bitcoin (BTC) is closely linked to the S&P 500 and is on track to fall more than 9 percent this week. If this correlation continues, Goldman Sachs strategist Sharon Bell warned it could trigger a 26% drop in the S&P 500.

Daily View of Crypto Market Data. Source: Coin 360

Many expect the Fed to hike by 75 basis points at its next meeting from September 20 to September 21, but the FedWatch Tool shows an 18% chance of a 100 basis point rate hike. This uncertainty can keep traders on edge, increasing short-term volatility.

If the Fed’s rate hikes are in line with market expectations, select cryptocurrencies could attract buyers. Let’s study the charts of five cryptocurrencies that are positive in the near term.