Bitcoin slipped about 2% to near $64,000 following the Federal Reserve's decision to hold interest rates steady while signaling a possible rate hike later this year. The move came during Chair Kevin Warsh's first meeting on June 17.
The Federal Open Market Committee voted to maintain its target range at 3.50% to 3.75%. Nine of 18 dot-plot projections now point to at least one rate hike before year-end.
Bitcoin traded near $64,300 with an intraday low of $63,950. Other major cryptocurrencies also declined, including ether, which fell 3.4% to $1,733.
Analyst Gerry O'Shea of Hashdex said bitcoin is likely to trade in the $60,000 to $70,000 range in coming weeks without a major catalyst. Matt Mena of 21Shares noted that bitcoin needs to clear $70,000 to support a stronger recovery.
On-chain data from Glassnode shows the market remains in a repair phase, with bitcoin still below key cost-basis levels around $72,600 for short-term holders.
