Bitcoin, Ethereum, XRP, Dogecoin Slide Further Amid Fed's Hawkish Shift: Analyst Paints This Upside Target For BTC If It Holds $64,000 As Support

💡 The Federal Reserve's hawkish shift has led to a further slide in Bitcoin, Ethereum, XRP, and Dogecoin prices.

The Federal Reserve delivered a hawkish surprise on Wednesday, signaling that interest rate cuts remain further away than markets had hoped. Fed Chair Jerome Powell told reporters that the central bank needs "greater confidence" that inflation is sustainably declining before it will consider easing policy.

The 10-year Treasury yield surged to 4.8% in the aftermath, its highest level since October 2023. $TLT fell sharply as bond traders repriced the timing of the first cut from March to June.

Cryptocurrency Market Reactions

Bitcoin, Ethereum, XRP, and Dogecoin prices have all fallen in response to the Federal Reserve's hawkish shift. The $BTC price has dropped below $65,000, while $ETH has fallen to $2,900. $XRP has also declined, falling to $0.65.

Bitcoin Price Analysis

Analysts believe that if $BTC holds above $64,000, it could potentially reach $72,000. However, if the price falls below $62,000, it could lead to further losses.

Market Volatility

The cryptocurrency market is highly volatile, and prices can fluctuate rapidly in response to changes in market sentiment and economic data.

What It Means for Investors