Bitcoin traded below $76,000, down 2.18% after the US Federal Reserve's decision to hold interest rates steady. According to reports from LiveMint, the cryptocurrency was trading at $75,521.26 during the last 24 hours, declining for the second consecutive day following the Fed's decision to keep rates unchanged for a third straight meeting. The decision matched market expectations, but Bitcoin remained under pressure during Chairman Powell's press conference, highlighting continued market caution amid broader macroeconomic uncertainty. As per LiveMint, the Fed pointed to elevated energy prices and ongoing Middle East tensions which suggests financial conditions may stay tight for now, which can moderate near-term risk appetite across markets.
Bitcoin fell to an intraday low of $75,348, slipping just below its 21-day simple moving average of $75,664, a level traders had been watching closely as a potential support. As reported by LiveMint, this technical breakdown represents a significant development for the cryptocurrency's near-term outlook. The decline occurred after the minutes were published, reinforcing the bearish sentiment in the market. According to WazirX Market's Desk, Bitcoin trades near $75,712, holding steady as indicators show balanced momentum, while Ethereum trades near $2,246, facing near-term pressure as momentum softens. Bitcoin is currently trading in a narrow range between $75,500 and $76,500, reflecting a phase of consolidation.
Ethereum was down 3.81% to trade near $2,251 level, showing a similar pattern to Bitcoin's decline. According to LiveMint, among the major altcoins, XRP, BNB, Solana, Hyperliquid and Cardano fell up to 1% whereas Tron and Dogecoin were up 0.6% and 5% respectively. The global crypto market capitalisation edged down 1% to $2.54 trillion, according to CoinMarketCap data. Despite the near-term dip, April is on track to end strongly with Bitcoin gaining nearly 12% for the month, with the rally supported by steady institutional inflows into spot Bitcoin ETFs and rising open interest on the CME.
Ashish Singhal, Co-founder of CoinSwitch, noted that Bitcoin extended its mild decline after the FOMC kept rates unchanged, amid ongoing uncertainty in the Middle East. As reported by LiveMint, Avinash Shekhar, Co-Founder & CEO of Pi42, explained that the Fed's decision to hold rates steady reinforces a 'higher-for-longer' interest rate environment, which typically restricts excess liquidity flowing into risk assets such as crypto. Shekhar believes that any downside is likely to be measured rather than sharp, with Bitcoin already oscillating in the $74,000–$78,000 range and Ethereum in the $2,250–$2,350 band—suggesting that a significant portion of macro uncertainty is already priced in. Looking ahead, the next major trigger for the market could be developments around the CLARITY Act, which is expected to play a key role in shaping regulatory clarity and investor sentiment in the weeks ahead.
In the past week, Bitcoin and Ethereum were down 3% and 4% respectively, according to The Economic Times. Among the major altcoins, XRP, BNB, Solana, Tron, Hyperliquid and Cardano fell up to 3.5% whereas Dogecoin was up 11%. For investors, Shekhar advised that this is a phase to remain disciplined, focusing on staggered allocations rather than reacting to short-term volatility. A gradual approach to accumulating Bitcoin and Ethereum, combined with a medium- to long-term perspective, is advisable, while avoiding overexposure during intraday swings. Structurally, rising institutional participation and sustained adoption trends continue to provide underlying support, indicating that any price softness reflects liquidity timing rather than a fundamental shift in the broader digital asset narrative.
