On May 28, the markets responded to the release of the latest Fed minutes, which came amidst rising economic uncertainty in the U.S.:
- - Riot Platforms: -8.32%
- - CleanSpark: -7.61%
- - MARA: -9.61%
- - Coinbase: -4.55%
- - MicroStrategy: -2.14%
The drop was driven by the Fed's mention of "difficult trade-offs" that could arise if inflation remains steady while economic growth slows. This has intensified concerns about potential monetary policy tightening.
Meanwhile, Bitcoin experienced only a slight dip of 0.9%, landing at $107,826, while the Fear and Greed Index inched up by 3 points, suggesting measured investor optimism.
The next interest rate decision is anticipated on June 18, with markets largely expecting rates to remain unchanged.
However, growing political criticism of Fed Chairman Powell from President Trump could amplify pressure on the cryptocurrency market in the near term.