Bitcoin Dips Below $64,000 Amid Hawkish Rate Speculation
The Federal Reserve's July 2026 FOMC meeting sparked significant volatility in Bitcoin prices. Despite expectations of a rate hold, speculation about a hawkish tone or surprise hike pressured BTC below $64,000 on July 28. This move reflects investor caution amid growing concerns that the Fed might adopt a more restrictive monetary policy to combat inflation.
The US economy added 57,000 nonfarm payroll jobs in June 2026, with the unemployment rate steady at 4.2%. Inflation, as measured by the Consumer Price Index (CPI), showed a slight decline in June to 332.568 from 333.979 in May.
Caroline Mauron, co-founder of Orbit Markets, noted that Bitcoin's recent weakness is tied not only to rate hike fears but also to macro concerns around AI-related credit risks. The interplay between macroeconomic fundamentals, geopolitical risks, and technological investment trends like AI will shape Bitcoin's trajectory in the near term.