Bitcoin Faces Pressure as Fed Hawkish Tone Weighs on Crypto Market

Bitcoin (BTC) traded at $66,423, down 1.55% as investors remain cautious amid a hawkish stance from the U.S. Federal Reserve. The central bank’s signals of maintaining tighter monetary policy have contributed to a risk-off sentiment across global markets, affecting digital assets alongside equities.

The market has seen notable accumulation by long-term holders, with monthly purchases rising sharply compared to last year, signaling confidence in Bitcoin’s long-term potential despite short-term volatility. Corporate adoption continues as well, with major firms increasing their Bitcoin holdings.

Overall, while Bitcoin retains strong market capitalization and adoption trends, the combination of Fed hawkishness, cautious investor sentiment, and resistance levels may keep the cryptocurrency under pressure in the short term.