In a selloff that was caused by hotter-than-expected wholesale inflation, Crypto markets increased their losses on Thursday after the Federal Reserve dropped interest rates and raised its 2026 inflation forecast yesterday to add up to ‘highly anticipated’ inflation.
Approximately $70,000, down 1-1, is Bitcoin (BTC) trading at about $70,000. three percent of 24 hours since . The price of $ETH and SOL dropped 2% to $2,135 and $88. 5 respectively. In the meantime, Ripple (XRP) fell 1% to a drop of 1.1 per cent.
Total crypto market capitalization is down 1.5% to $2.48 trillion, according to Coingecko.
Fed Raises Inflation Outlook
Earlier yesterday, the Federal Reserve held rates steady as widely expected, but the projections accompanying them gave it an extremely hawkish surprise. In a statement, policymakers raised their 2026 PCE inflation forecast to 2 for the year. 7% of 2 from paraphrasing. 4%, with Chair Jerome Powell admitting that “for sure rising oil prices rose” in the committee’s new outlook for its latest.
A median expectancy for a 25-basis-point cut is still present in the dot plot this year, but seven of the 19 FOMC members now project zero cuts in 2026 (up from six in December).
Big Movers
Nearly all of the Top 100 digital assets posted losses over the last 24 hours.
Today’s top gainers are Quant (QNT) and Pi Network (PI).
Worldcoin (WLD) and PUMP are the biggest losers, down 10% and 6%, respectively.
CoinGlass reported that some 118,000 leveraged traders were shrewdered for $405 million in the last 24 hours. $ETH accounted for $98 million, while Bitcoin was $145 million.
Bitcoin exchange-traded funds (ETFs) recorded outflows of $163.5 million on Tuesday, snapping a seven-day winning streak.
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