US EditionBitcoin price news: BTC rally faces key hurdle with Wednesday Fed meeting, inflation data
The Fed's hold on rates and raised inflation forecast shifted market expectations, causing Bitcoin to drop nearly 5%, reflecting caution among crypto investors.
- On Wednesday the U.S. Federal Reserve left its benchmark rate at 3.50%-3.75%, and Bitcoin fell nearly 5% over 24 hours as the rally paused ahead of the decision.
- On the back of a large PPI print, the U.S. Federal Reserve raised its year-end inflation forecast to 2.7% from 2.4% after producer prices increased 0.7% in February.
- After briefly topping $76,000, bitcoin pulled back to about $74,000 during the U.S. session, Bitfinex analysts expected this region to cap gains while Circle and Bitdeer rose 5% and 12%.
- Analysts warned that a hawkish outcome could strengthen the U.S. dollar and weigh on risk assets, as interest rates remain a key market driver and steady rates can sour investor sentiment.
- Market expectations now over 60% foresee rates remaining unchanged through July, with potential cuts pushed into late 2026, according to Bitfinex analysts.
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Why Bitcoin Was Sinking on Wednesday
Key PointsThe prospects for interest rate cuts in the coming months seem to be fading.That's not great for any cryptocurrency, especially the most popular one.10 stocks we like better than Bitcoin › One of the key market drivers for cryptocurrencies is interest rates. All things being equal, when they're on the way down, investors get more excited about digital coins and tokens. Conversely, when they stay level (or even rise) that sentiment can …
Bitcoin faces pressure after hotter-than-expected inflation data: CNBC Crypto World
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Bitcoin price news: BTC rally faces key hurdle with Wednesday Fed meeting, inflation data
Hot PPI inflation data in the morning and hawkish remarks by Powell in the afternoon would be the most damaging combination for risk assets, including crypto, Bitfinex analysts said.
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Bitcoin price drops to $70k as hot PPI data and Powell speech cast doubts over rate cuts
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