Bitcoin dips below $63K as hawkish Fed outlook eclipses oil’s drop to $79.85
On June 18, the Federal Reserve kept rates unchanged, but its dot plot shifted sharply hawkish, with 9 officials projecting at least one hike this year and the median year-end PCE inflation forecast rising to 3.6%. The US dollar index (DXY) climbed to a one-year high of 100.80 the same day. Separately, the US and Iran agreed to a 60-day MOU to ensure safe commercial passage through the Strait of Hormuz, sending Brent down to $79.85 a barrel, its lowest since the conflict began. The easing in oil markets, however, failed to offset the Fed’s tighter policy signal.
