Bitcoin slides below $67,000 as traders digest hawkish US macro outlook
Bitcoin dropped below $67,000 due to a hawkish shift in U.S. Federal Reserve expectations following a key nomination.Summary
Bitcoin, Ethereum, and other major cryptocurrencies declined early Wednesday as traders reacted to a more hawkish macroeconomic outlook. Bitcoin fell below $67,000, dropping 3.1% in 24 hours, while Ether and other altcoins also saw significant drops. Analysts attribute this selloff primarily to shifting Federal Reserve expectations, specifically citing the nomination of Kevin Warsh as Fed chair, which signals tighter liquidity and fewer anticipated rate cuts. Experts suggest Bitcoin may find support between $60,000 and $65,000, awaiting macro easing or sustained ETF momentum for a rebound. Derivatives data indicates that excess leverage has largely been flushed out. Meanwhile, spot Bitcoin ETFs recorded $166.56 million in net inflows on Tuesday, though Ethereum ETF inflows were more modest. Equity markets showed mixed results, with Asian equities generally higher while U.S. stocks varied following weaker retail sales data.
(Source：The Block)