Bitcoin taps $63,000 as Fed tone and Iran cues reshape market

Bitcoin rose above $63,000 on Friday as markets absorbed shifts in both macro and geopolitical risk. The token traded in a narrow range on short timeframes after sliding to eight-day lows, taking a time-out near this week’s lows amid a broader risk-asset pullback.

The Federal Open Market Committee left rates unchanged in its first meeting under new chair Kevin Warsh. Warsh avoided dovish signals, noting that "inflation remains elevated relative to the Committee's 2 percent goal" and adding, "The Committee will deliver price stability." He also reduced the length of the FOMC statement and hinted the dot plot and other forward guidance could be altered, a move that many said would leave markets with less Fed outlook and more uncertainty.

CME Group’s FedWatch Tool showed markets pricing in close to a 40% chance of a rate hike at the late-July FOMC meeting. With US markets closed for Juneteenth, Bitcoin and crypto digested fresh US–Iran tensions as Iran once more eyed the Strait of Hormuz.

United States, Iran

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