First Mover Americas: Crypto Majors Subdued After Fed’s Hawkish Stance

The largest cryptocurrencies fell during the European morning, extending the moderate mood after the Federal Reserve lowered interest rate cut expectations on Wednesday. Bitcoin and ether fell about 1% in 24 hours, data from CoinDesk Indices shows. Bitcoin fell just below $66,000 (near the lower end of the $72,000 to $65,000 range it has been trading in for the past month) and ether traded around $3,500. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for the Islamic festival Eid al-Adha. Meme coins led the declines, with SHIB losing 3.5% and DOGE losing 1.7%.