Bitcoin fell 1.7% to around $64,347 in the 24 hours through Thursday morning, mirroring a broader retreat in risk assets after the Federal Reserve held interest rates steady but signaled a possible hike later this year. The hawkish shift, delivered by Fed Chair Kevin Warsh, overshadowed a brief boost from President Donald Trump’s signing of a US–Iran peace memorandum.
US stock futures staged a rebound on the dual news: Nasdaq 100 futures surged 1.3%, S&P 500 futures added 0.7%, and Dow futures climbed over 300 points. The Iran deal—signed earlier than expected—raised hopes for the reopening of the Strait of Hormuz, pushing Brent crude below $78 a barrel and easing some inflation fears. Energy-sensitive sectors caught a bid, with Intel jumping 9.3% in pre‑market on Trump’s announcement that Apple would co‑design chips with the company.
Yet the Federal Reserve’s tone dominated sentiment. Warsh stressed the need to bring inflation under control, and policymakers indicated that higher rates could be back on the table. Markets now price a 50% chance of a 25‑basis‑point hike in September, up from 27% on Wednesday, and a full hike by October. The 10‑year Treasury yield dipped to 4.45%, but the U.S. dollar strengthened, weighing on bitcoin and other non‑yielding assets. Lower oil prices and stronger‑than‑expected May retail sales provided some cushion, but the macro backdrop kept risk appetite in check ahead of Friday’s Juneteenth market holiday.
