Fed Hawkishness Drags Bitcoin Below $64,000 as Onchain Signs Fade

Bitcoin (BTC) slipped below $64,000 as the Federal Reserve's hawkish tone overshadowed signs of onchain repair. The Fed's statement, which emphasized its commitment to keeping inflation under control, weighed heavily on the cryptocurrency market.

The price drop comes after a brief period of recovery that saw Bitcoin bounce back from lows around $56,000. However, the recent decline suggests that the market is still grappling with the uncertainty surrounding interest rate hikes and their impact on asset prices.