Bitcoin, Ethereum, and XRP faced renewed selling pressure after the latest Federal Open Market Committee (FOMC) minutes signaled caution on inflation and interest rates.
The minutes showed that policymakers believe inflation progress may be “slower and more uneven than expected.” While inflation has cooled, officials said rate cuts are not imminent and further hikes remain possible if price pressures return.
Treasury yields rose as a result, tightening financial conditions. High-beta assets like cryptocurrencies reacted with declines as investors adjusted positions.
Bitcoin (BTC) briefly dipped toward $65,000 before recovering to around $66,800. The 50-day moving average at $82,600 remains a key resistance level. Momentum indicators show weak strength, with RSI near 34 and support around $64,000 and $60,000. Resistance lies at $70,000 and $75,000–$76,000.
Ethereum (ETH) is consolidating near $1,960 after a sharp early February sell-off. Support sits at $1,900 and $1,800, while resistance is near $2,050 and $2,200. Indicators show mild buying pressure but weak inflows, suggesting cautious investor sentiment.
XRP trades around $1.41, below its mid-Bollinger Band at $1.46. Support levels are $1.35 and $1.25, with resistance near $1.46 and a stronger barrier at $1.60–$1.65. Capital inflows remain limited, reflecting continued market hesitation.
Analysts say the Fed’s cautious tone has reinforced a short-term bearish trend for cryptocurrencies. While rebounds may occur, selling pressure is expected to persist until clearer signs of liquidity and momentum return to the market.
Investors are advised to monitor key support and resistance levels closely, as further Fed communications or macroeconomic developments could drive additional volatility.
