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Bitcoin Falls Below $67K After Hawkish Fed Minutes
Bitcoin declined on Thursday, extending recent losses after hawkish signals from the January meeting minutes of the Federal Reserve increased uncertainty over the interest rate outlook.
Crypto markets were also pressured by broader risk aversion amid escalating geopolitical tensions between the United States and Iran. Meanwhile, gold benefited from safe-haven demand.
Bitcoin fell 1.3% to $66,963.8 as of 06:06 GMT.
Cryptocurrencies also largely lagged the rally in global tech stocks, despite historically tracking the sector.
Fed Minutes Add Pressure
The Fed’s January meeting minutes showed policymakers growing increasingly divided over the long-term path of rates and inflation, with “several” members suggesting that rate hikes could be warranted if inflation remains persistent.
Officials also expressed uncertainty over the economic impact of artificial intelligence, with differing views on whether the technology will hinder or support growth.
Crypto markets were particularly rattled by the prospect of higher rates, as elevated borrowing costs tend to weigh on speculative assets like Bitcoin. Traders shifted toward the U.S. dollar following the release of the minutes.
Goldman Sachs CEO on Bitcoin
Goldman Sachs CEO David Solomon said he personally owns very little Bitcoin but continues to monitor the asset closely and is interested in its potential impact on financial markets.
Speaking at the World Freedom Forum, Solomon noted that the Wall Street bank could consider expanding further into crypto, particularly if clearer regulation emerges under the administration of Donald Trump.
Altcoins Remain Weak
Broader crypto prices traded mostly in a range amid a lack of positive catalysts. Like Bitcoin, most altcoins have suffered significant losses in recent months as overall investor sentiment toward crypto weakened.
Markets are now focused on upcoming U.S. economic data, particularly the PCE price index — the Fed’s preferred inflation gauge — due Friday.
Ether, the world’s second-largest cryptocurrency, fell 1.1% to $1,980.99, while XRP dropped nearly 4% to $1.4228.
Solana, Cardano, and BNB declined between 0.4% and 3%.
Among meme coins, Dogecoin fell 2.5%, while TRUMP slipped 1.7%.
See also: "Bitcoin ETFs Hold $85 Billion in Assets Despite Bitcoin’s Price Decline"
