Fed Minutes Suggest Higher Rates Ahead, Weighing on Bitcoin

The US Federal Reserve's latest meeting minutes have revealed a more hawkish stance, casting uncertainty over the future of interest rates and their potential impact on risk assets like bitcoin. The April 28-29 meeting saw policymakers discussing the possibility of removing easing bias and additional rate hikes if inflation does not ease easily.

Despite keeping its policy rate at 3.50-3.75 percent, the Fed's cautious tone has sparked concerns that higher rates for longer could be on the horizon. The minutes highlighted a shift in perceptions within the Fed, with many policymakers indicating they should remove existing easing bias altogether.