BTC remains stable despite Fed rate-hike dissent, geopolitical tensions, and an 8% oil surge pressuring equities.
Bitcoin traded near $63,915 on Thursday, showing resilience as the Federal Reserve’s hawkish split and Iran’s missile strikes rattled global markets. The Fed left rates unchanged but three committee members voted for an increase, fueling speculation of future hikes. Oil prices surged 8% overnight after Iran launched ballistic missiles at U.S. targets, sending the Dow down 2.2% and the Nasdaq to a three-month low.
The crypto market absorbed heavy liquidations, with $286 million in positions wiped out in 24 hours. Longs accounted for $186 million of the losses, while shorts contributed $100 million. Despite the volatility, BTC settled at $64,490.60, little changed from its pre-Fed level, while ether dipped just 0.25%. The Fed’s stance and geopolitical risks typically weigh on risk assets, but crypto’s stability stood out amid broader market declines.
DeFi tokens rose, contrasting with equities’ sharp sell-off. The session’s price swings flushed out leveraged futures bets, but BTC’s ability to hold key levels suggests underlying support remains intact.