Fed’s hawkish dot plot keeps Bitcoin under pressure despite ceasefire-led rebound
Bitcoin rebounded above $63,000 on reports of an Israel-Hezbollah ceasefire, but CryptoQuant said tighter-for-longer Federal Reserve expectations continued to weigh on crypto demand as commodities repriced.
Bitcoin recovered above $63,000 after reports that Israel and Lebanon’s Hezbollah had agreed to a ceasefire improved risk sentiment, but the broader move remained constrained after the Federal Reserve’s hawkish dot plot pushed investors toward traditional safe havens. Reuters reported that a U.S. senior official said the ceasefire was due to begin at 4 p.m. local time on Friday, or 21:00 Beijing time. CryptoQuant said tighter-for-longer rate expectations were weighing on crypto demand even as easing Middle East tensions supported a relief rally and traders recalibrated positions across oil, gold and Bitcoin.
- dot plot: Federal Reserve chart showing policymakers’ interest-rate projections.
- WTI crude: U.S. benchmark grade of oil.
- safe havens: Assets investors tend to favor during uncertainty or tighter financial conditions.