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Crypto Market Remains Volatile After Fed Confirms Pause in Rate Hikes and SEC Charges Against Binance and Coinbase

June 15 (Cointime) - The crypto market has been volatile since the June 14 FOMC announcement and press conference with Fed Chairman Jerome Powell. Powell confirmed that the central bank would pause rate hikes for June, but also mentioned that at least two more rate hikes would be needed in the future. Despite starting the day up, Bitcoin's price has since retraced to a 24-hour low of $25,791, with some analysts predicting a drop to $25,000 based on current BTC derivatives data.

The SEC's charges against Binance and Coinbase may be contributing to the muted crypto price action and lack of a bullish response to the rate hike pause. Regulation has also been a major focus in recent cryptocurrency news, with the EU unveiling a digital asset framework and the US regulating through SEC enforcement. Despite heavy macro headwinds, upcoming rate hikes, and low volume, the volatility in crypto is likely to remain in the foreseeable future.

Bitcoin Bitcoin $92,734.49
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