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

💡 Bitcoin and Ethereum prices continue to slide as the Fed's hawkish shift weighs on investor sentiment.

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.

Crypto Market Slides Further

Bitcoin, Ethereum, XRP, and Dogecoin prices are all experiencing a significant decline as investors reassess their portfolios in light of the Fed's hawkish shift. The Bitcoin price has fallen below $40,000, with some analysts warning that it may not hold above $64,000 as support.

The Ethereum price has also taken a hit, falling to around $2,500 as traders sell their positions in anticipation of further rate hikes. XRP, meanwhile, has dropped to around $0.50, with some analysts predicting that it may not recover until the Fed starts to ease up on its monetary policy.

Crypto Investors on Edge

Investors are on high alert as the crypto market continues to slide, with many wondering if this is the start of a prolonged bear market. The Fed's hawkish shift has sent shockwaves through the market, leaving many investors feeling uncertain about the future.

What It Means for Investors