Bitcoin Dips to $64,000 Amid Hawkish Fed Stance and Illinois Tax Law
The cryptocurrency market saw a significant decline following the Federal Reserve's latest FOMC press conference. Bitcoin retreated to $64,000 as the Fed signaled a hawkish policy, maintaining interest rates between 3.50% and 3.75% and increasing the median year-end 2026 rate projection to 3.8%. This shift dampens expectations for a recovery, with market participants now pricing in a reduced likelihood of rate cuts.
Adding to the headwinds, Illinois has enacted the Digital Asset Privilege Tax Act, imposing a 0.2% tax on crypto activities starting January 1, 2027. This new legislation, alongside macro pressures and potential selling from entities like MicroStrategy, suggests a period of prolonged volatility for digital assets.


Cryptovka
Bitcoin Plummets to $64,000 as Fed Adopts Hawkish Policy Stance
The cryptocurrency market experienced a significant downturn following the first Federal Open Market Committee (FOMC) press conference led by Chair...


















