Fed Decision Looms Over Bitcoin's Fragile Price Recovery
Bitcoin's recent rebound to around $65,000 is being described as a relief rally by analysts, but this optimism may be short-lived. The Federal Reserve's upcoming policy decision on Wednesday could quickly reverse these gains if the central bank signals a more restrictive stance.
In other market news, crude oil prices fell approximately 7% following a diplomatic pause between the United States and Iran, which eased geopolitical tension. Meanwhile, Bitcoin exchange-traded funds (ETFs) recorded their third consecutive week of net inflows despite $465 million in late-week selling.
On-chain data revealed a $198 million whale withdrawal that has tightened supply and fueled speculation about a push toward $70,000. Ripple's leadership threw its weight behind the CLARITY Act, urging swift passage, while Michael Saylor argued that resisting Bitcoin's integration with traditional banks and markets limits the asset to a fraction of its potential.
However, researchers discovered 31 vulnerabilities in the x402 payment protocol, which expose most transactions to theft. Additionally, a compromised owner contract allowed hackers to mint 5.2 million WEMIX stablecoins, prompting a full network freeze.