$400M Wiped Out in Hours as Bitcoin Crashes After FOMC and Warsh Speech
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Bitcoin was rejected above $66,000 and slid to about $64,000 after today’s FOMC meeting and a surprise hawkish press conference by new Fed Chair Kevin Warsh. The unexpected hawkish tone raises tighter monetary policy risk and short-term macro-driven volatility for crypto markets, pressuring BTC price action across CEXs and DeFi trading venues.
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Bitcoin’s price is losing ground once again, as the asset was rejected at over $66,000 earlier today and dumped to $64,000 minutes ago, shortly after the conclusion of the latest FOMC meeting and the subsequent press conference by the new Fed Chair, Kevin Warsh.
Unlike what many expected when he replaced Jerome Powell, Warsh maintained a very hawkish tone during his speech, which caught investors by surprise.
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