Bitcoin slipped below $63,000 on Friday amid a broader selloff in risk assets, erasing earlier gains linked to an Iran deal that eased oil supply concerns.
The largest cryptocurrency traded around $62,700, down nearly 2% over 24 hours, according to market data. It had touched an intraday low near $62,263 before recovering slightly.
The drop followed the Federal Reserve's June 18 decision to hold rates steady at 3.50% to 3.75%. Policymakers issued a hawkish dot plot, with nine of 18 officials now projecting at least one rate hike this year.
Oil prices eased after the US-Iran deal reopened the Strait of Hormuz, with Brent crude settling near $79.85. Yet the relief failed to lift Bitcoin as traders refocused on inflation forecasts and a stronger dollar.
Traders have increased bets on further declines, buying put options with strikes as low as $52,000 on Deribit. Strategy's preferred stock, STRC, also came under pressure, adding to market caution.
