Majors slide on hawkish Fed even as Trump signs Iran deal

It was the first decision under new Chairman Kevin Warsh, who said there had been rigorous debate before the vote and vowed the central bank would deliver price stability. A more hawkish Fed means tighter financial conditions, which tend to drain the liquidity that fuels risk assets like crypto.

Stocks took the week’s news better, helped by a separate development. President Donald Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, putting the agreement into effect.

S&P 500 futures rose as much as 0.9% and Nasdaq futures gained 1.5%, while Brent crude fell toward $78 a barrel. Crypto did not catch that bid, a sign it is trading more on the Fed than on the geopolitical relief for now.

Analysts expect bitcoin to stay rangebound until a clearer catalyst arrives.

“We expect bitcoin to continue to trade in the $60,000 to $70,000 range in the coming weeks absent any major catalyst,” said Gerry O’Shea, head of global market insights at Hashdex, naming the signing of the CLARITY Act, a crypto market-structure bill, into law or further US-Iran de-escalation as the kind of trigger that could break the range.

He added sentiment has been weak as IPOs and AI stocks pulled attention away from crypto, but expects capital to rotate back as institutional interest grows and regulation formalizes.