Crypto Majors Subdued After Fed’s Hawkish Stance

The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve trimmed interest-rate cut expectations on Wednesday. Bitcoin and ether both fell by around 1% over 24 hours, CoinDesk Indices data show. Bitcoin dropped to just below $66,000 – near the low end of the $72,000-$65,000 range it’s been trading in for the past month – and ether was quoted around $3,500. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for Islam’s Eid al-Adha festival. Meme coins led declines, with SHIB losing 3.5% and DOGE dropping 1.7%.

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