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, Ethereum, and other cryptocurrencies continue to slide amid the Federal Reserve's hawkish shift, with one analyst predicting a potential upside target for BTC if it holds above $64,000.

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 Prices Plummet Amid Hawkish Shift

Bitcoin ($BTC) and other cryptocurrencies have been selling off in recent days as investors reassess their positions in light of the Fed's hawkish pivot. The Bitcoin price has fallen by 5% in the past week alone, with some analysts warning of further downside potential if the trend continues.

Ethereum and XRP Prices Also Decline

Ethereum ($ETH) and XRP have also been negatively impacted by the Fed's shift, with both cryptocurrencies falling by 3-4% in the past week. The XRP price has been particularly hard hit, with some analysts predicting a potential 20% decline in the coming weeks.

Dogecoin and Other Small-Caps Suffer

Dogecoin ($DOGE) and other smaller cryptocurrencies have been hit particularly hard by the recent sell-off, with some prices falling by as much as 10% in the past week. The small-cap space remains a high-risk area for investors, with many analysts warning of potential capital losses if the trend continues.

What It Means for Investors