Crypto Market Dips as Hawkish Outlook and Regulatory Friction Take Hold

The cryptocurrency market experienced a slight dip, with Bitcoin dropping towards $64,800. This came after Kevin Warsh's first FOMC meeting as Fed Chairman signalled a hawkish outlook, putting pressure on risk assets.

Ethereum reached a significant milestone by surpassing 1 million lifetime developers, solidifying its ecosystem lead with over 232,000 active builders globally.

However, the market also saw regulatory friction in Illinois, where Governor Pritzker signed a controversial 0.2% crypto tax that was heavily criticized by industry leaders as highly anti-crypto.