EL7.AI
CryptoUpdated×5•Originally published 17 June 2026•Updated 18 June 2026•
2 min read

Bitcoin Slides Toward $64K as Hawkish Fed Chair Comments Spark Crypto Sell-off

Man in a suit beside a press crushing Bitcoin coins, with the Federal Reserve building and US flag in the background.

Key Facts

1Bitcoin price fell back toward the $64,000 level after a relief rally driven by easing Middle East tensions erased.
2A hawkish Federal Reserve outlook triggered a cascade of liquidations across the cryptocurrency market.

In a sudden shift in market sentiment, cryptocurrencies faced intense selling pressure that pushed Bitcoin down toward the $64,000 level. According to reports, hawkish comments from the new Federal Reserve Chair, Warsh, sparked investor concerns regarding the future path of monetary policy, erasing gains made following the recent rate hold decision. The total crypto market capitalization fell by 2.6% to $2.2 trillion amid a global sell-off of risk assets.

This decline renews pressure on the sector after Coinbase (COIN) shares had shown relative stability in previous sessions per market data. These pressures coincide with ongoing anxiety over inflation data, as the U.S. Producer Price Index (PPI) rose 1.1% in May, exceeding the 0.7% forecast (data from June 11, 2026). The current downturn reflects the crypto market's heightened sensitivity to any hints of further monetary tightening from the U.S. central bank's new leadership.

Looking at technical levels, Bitcoin is trading near $64,150 (close of June 18, 2026), with $64,000 serving as a critical psychological support zone. Traders are cautiously awaiting further remarks from Fed officials and key economic data releases scheduled for next week that could dictate the market's direction. Given this volatility, focus remains on whether the digital asset can hold its current levels to avoid deeper corrections.

Latest Updates · 2

  1. Notable·

    Update: Markets are now monitoring a push in the U.S. Senate to pass the "Clarity Act," intended to establish a comprehensive regulatory framework for the sector. According to reports, industry experts warned that legislative uncertainty could jeopardize U.S. global leadership in digital assets, adding a regulatory dimension to the current pressures facing cryptocurrencies.

  2. Notable·

    Update: The downward momentum accelerated following the FOMC meeting and a speech by Warsh, triggering $400 million in liquidations within a few hours. Bitcoin's price has dropped by more than $2,000 since the conclusion of the meeting, reflecting the market's immediate reaction to the hawkish policy signals.