Bitcoin · Federal Reserve (FED) · Donald Trump · Iran · Kevin Warsh · CoinDesk
Bitcoin, ether slide after a hawkish Fed, even as Trump's signed Iran deal lifts stocks
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Crypto fell across the board on Thursday, shrugging off a signed Iran peace deal that lifted stocks, after the Federal Reserve held interest rates but made clear it is more worried about inflation than growth.
Key facts
- Ether fell 3.4% to $1,733, XRP dropped 3.9% to $1.17 and solana lost 3.6% to $71
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- Hyperliquid's HYPE, the standout gainer all week, fell hardest at 7.2% to $69, though it remains up about 28% over seven days
- Bitcoin traded around $63,900, down 3% over 24 hours though still up 2% on the week, per CoinDesk data
Summary
Cryptocurrencies fell broadly despite a market-lifting Iran peace deal, as investors focused on a more hawkish Federal Reserve stance on inflation. The Fed left interest rates unchanged but signaled higher-for-longer borrowing costs, tightening financial conditions that typically weigh on risk assets like bitcoin and ether. Analysts expect bitcoin to remain rangebound between $60,000 and $70,000 absent a major catalyst, such as new U.S. crypto legislation or further U.S.-Iran de-escalation. Bitcoin traded around $63,900, down 3% over 24 hours though still up 2% on the week, per CoinDesk data. Ether fell 3.4% to $1,733, XRP dropped 3.9% to $1.17 and solana lost 3.6% to $71.