Fresh Federal Reserve minutes have rattled financial markets, sending renewed pressure across risk assets, including cryptocurrencies. The latest Federal Open Market Committee update carried a distinctly hawkish tone, reinforcing the message that interest rate cuts are not coming anytime soon.
Policymakers acknowledged inflation has cooled from previous highs, but warned that progress toward the Fed’s two percent target could be slower and more uneven than expected. They also noted that the risk of inflation staying above target remains meaningful.
For crypto markets, that language matters.
When rates stay higher for longer, liquidity tightens. Treasury yields climb. Capital tends to rotate away from high volatility assets such as Bitcoin, Ethereum, and XRP. That shift has already begun to show on the charts.
Bitcoin Holds Ground but Trend Remains Weak
Bitcoin is currently trading near 66800 dollars after briefly dipping toward the 65000 zone following the Fed minutes. While the price has stabilized, it remains well below its 50 day simple moving average near 82600 dollars.
That gap signals the broader short term trend is still bearish.
The Relative Strength Index is hovering around 34, recovering from near oversold territory but still below the neutral 50 mark. This suggests that momentum remains weak despite the bounce.
Immediate support sits near 64000 dollars, with a deeper floor around 60000. On the upside, resistance appears near 70000, followed by a stronger barrier between 75000 and 76000. Unless Bitcoin reclaims those levels, rallies may continue to face selling pressure.
Ethereum Consolidates as Inflows Stay Soft
Ethereum experienced a sharp drop earlier this month, sliding toward the 1900 level before stabilizing. It is now trading around 1960, consolidating within a narrow range as markets digest the Fed’s stance.
Technical indicators offer mixed signals. The Balance of Power indicator has turned slightly positive, hinting at mild buying interest. However, the Chaikin Money Flow remains marginally negative, showing that capital inflows are still limited.
Immediate support lies near 1900, with a deeper support zone around 1800. On the upside, Ethereum faces resistance near 2050, followed by a more significant level around 2200, where previous breakdown pressure emerged.
Without stronger inflows, upside momentum may remain capped.
XRP Struggles Below Key Resistance
XRP continues to lag behind both Bitcoin and Ethereum. After falling from above 2 dollars earlier in the year, XRP recently rebounded from the 120 to 125 zone and now trades near 141.
Price remains below the mid Bollinger Band around 146, while the upper band near 165 acts as dynamic resistance.
The Chaikin Money Flow indicator remains slightly negative, suggesting limited conviction from buyers. Immediate support rests at 135, followed by the recent swing low near 125. Resistance stands at 146, with a stronger barrier between 160 and 165.
Until XRP clears those levels, the short term outlook remains cautious.
Macro Pressure Still in Play
The broader issue for crypto is macro uncertainty. The Fed minutes revealed that several policymakers would have supported a two sided risk description, meaning rate hikes are not fully off the table if inflation reaccelerates.
That possibility tightens financial conditions and reduces appetite for speculative assets.
With Treasury yields climbing and expectations for near term easing fading, digital assets are navigating a more restrictive environment. Unless inflation data softens significantly, liquidity driven rallies may remain limited.
For now, Bitcoin, Ethereum, and XRP are holding key support zones. Whether they can build sustainable momentum will depend less on crypto specific catalysts and more on how the macro landscape evolves in the weeks ahead.
