Bitcoin Pulls Back as Fed Meeting Spurs Market Jitters

In the wake of nervous U.S. markets ahead of a key Federal Reserve policy meeting and subsequent press conference by Fed Chairman Jerome Powell, Bitcoin experienced a notable pullback with a 3.5% drop, trading at $81,300. Other major cryptocurrencies like Ether (ETH), Solana (SOL), and XRP also registered modest losses. The underlying concern is that the Fed may not yet be ready to pivot toward a dovish stance despite expectations of potential easing in coming meetings. Historical trends suggest that while immediate sentiment remains bearish due to market uncertainty, the possibility of a rate cut in June may usher in a deferred rally. Investors are closely watching these developments, weighing short-term volatility against the longer-term potential for a positive shift should the Fed’s comments indicate a more accommodative policy.