Bitcoin rally stalls near $74k ahead of Fed meeting
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- Bitcoin fell back to around $74,000 on Tuesday after briefly topping $76,000 overnight, failing to hold the gain.
- Federal Reserve is expected to keep its benchmark interest rate unchanged at 3.50%-3.75% at Wednesday's meeting, but Chairman Jerome Powell's tone on inflation could affect risk assets.
- Jerome Powell may signal whether rising oil prices are a temporary shock or a stagflationary pressure, with a temporary‑shock view supporting crypto sentiment.
- Bitfinex analysts warned that a hot February PPI number combined with a hawkish Fed stance would be most damaging for equities and crypto, and they expect Bitcoin to stay within the $74,000–$76,000 range for now.
- Circle (CRCL) and Bitdeer (BTDR) posted gains of 5% and 12% respectively, as crypto stocks posted modest gains.
- Nasdaq closed up 0.5% and the S&P 500 rose 0.25% on the same day.
- Vetle Lunde, head of research at K33, noted that the probability of rates staying unchanged through the July meeting rose to over 60% from 22% last month, pushing potential cuts into late 2026.
Why it matters: Crypto investors risk a pullback if the Fed adopts a hawkish stance, while a temporary‑shock view on oil prices could keep Bitcoin’s modest gains intact, influencing market sentiment across equities and digital assets, and affecting the performance of related stocks such as Circle and Bitdeer.
