Bitcoin eyes $75K after 'most hawkish' FOMC as oil hits highest since 2022
Bitcoin price hovered around $76,000 amid weak market momentum following the Federal Reserve's 'most hawkish' policy stance in years, driven by inflation concerns linked to rising oil prices due to the US-Iran conflict. Oil prices surged past $120 per barrel, their highest since June 2022, amplifying inflation fears and impacting risk assets. Despite support near the 21-day moving average at $75,500, market sentiment remained cautious ahead of potential Federal Reserve leadership changes.
- ▪Bitcoin traded near $76,000 after dropping 2% following the Federal Reserve's hawkish FOMC meeting.
- ▪Spot Brent crude oil surpassed $120 per barrel for the first time since June 2022 amid supply concerns from the US-Iran war.
- ▪The FOMC meeting was described as Jerome Powell’s 'most hawkish in years,' with four members dissenting—the first such occurrence since 1992.
- ▪Trump criticized Powell on Truth Social, calling him 'too late' on rate cuts and expressing expectations for rate reductions under incoming Chair Kevin Warsh.
- ▪Whale investors were observed buying the dip on Binance, while smaller traders reduced exposure, according to order-book data.
Opening excerpt (first ~120 words) tap to expand
Written by William Suberg, Staff Writer. Reviewed by Allen Scott, Staff Editor. Written by William Suberg, Staff Writer. Reviewed by Allen Scott, Staff Editor. Bitcoin eyes $75K after 'most hawkish' FOMC as oil hits highest since 2022MarketsPublishedApr 30, 2026Bitcoin price action remained weak as the US-Iran war delivered a Fed meeting that was the "most hawkish in years" and oil neared four-year highs.Bitcoin (BTC) failed to recover new support on Thursday as oil hit its highest levels in nearly four years.Key points:Bitcoin struggles to recoup recent lost ground as geopolitical factors weigh on momentum.UK Brent crude oil spot markets record their highest levels since June 2022.The Federal Reserve's interest-rate decision is called Chair Jerome Powell's "most hawkish in…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Cointelegraph.
Discussion
0 commentsMore from Cointelegraph
