Bitcoin slid below $64,000 after the Federal Reserve’s updated dot plot projected either one or zero interest rate cuts for the remainder of 2026. The move wiped out weeks of cautious optimism in crypto markets and sent investors scrambling toward traditional safe havens.
CryptoQuant flagged the sell-off as something more structural than a garden-variety dip. The on-chain analytics firm reported the largest weekly contraction in Bitcoin demand since 2022.
What the Fed actually did
The June 17 FOMC meeting was the first under new Chair Kevin Warsh. The updated dot plot showed a median year-end rate expectation climbing above 3.6%.
Warsh also signaled during his first press conference that the Fed may reduce its reliance on forward guidance going forward.
