BTC and ETH hold steady at $104,000 and 2,500, respectively, despite geopolitical tensions and surging liquidations.
The cryptocurrency market saw little movement on Wednesday as the U.S. Federal Reserve held interest rates steady, as expected.
Bitcoin (BTC) is flat at around $104,000, while Ethereum (ETH) is up 0.7% to $2,488. XRP is holding steady at $2.15, and Solana (SOL) is down nearly 1% to $145.
The total cryptocurrency market capitalization dropped by 2% on the day to $3.35 trillion, while leveraged liquidations totaled $224 million, according to CoinGlass. ETH accounted for $67 million, while BTC followed with $45 million. Altcoins contributed to nearly $35 million in liquidations.
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $216 million in inflows on June 17. Meanwhile, spot ETH ETFs brought in $11 million, according to SoSoValue data.
Experts say the muted reaction reflects investor caution after the Federal Reserve’s widely expected decision to leave interest rates unchanged, as they await clearer macroeconomic signals.
The U.S. central bank held interest rates steady at 4.25% to 4.5%, maintaining its cautious stance. Meanwhile, officials are split on whether cuts will happen later this year, the New York Times reported.
Earlier today, President Donald Trump predicted the Fed wouldn’t cut interest rates and slammed Fed Chair Jerome Powell as “stupid,” – continuing his years-long criticism of Powell.
“So we have a stupid person. Frankly, you probably won’t cut today,” Trump said just outside the White House, per CNBC. “Europe had 10 cuts, and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.”
The president has been vocal for months about wanting the Fed to cut interest rates by at least two percentage points.
“Markets usually don’t like surprises — but lately, crypto doesn’t seem to react much,” said Ray Yossef, CEO of NoOnes. “Over the past week, we’ve seen a major hack targeting Iran’s biggest crypto exchange, growing tensions in the Middle East, and even signs of digital warfare. Yet crypto prices have barely moved.”
Yossef explained that Bitcoin remains stuck in a narrow range near $105,000, with daily volatility under 2.1% and no widespread panic selling.
“The bigger geopolitical picture isn’t getting any cooler,” he said. “The Strait of Hormuz, where 21 million barrels of oil flow every day, is in the spotlight, and there are signals suggesting U.S. naval involvement, so traditional markets are keeping an eye on oil – Brent recently hit $72 per barrel again.”
He further cautioned that ignoring escalating macro risks will not make them disappear. “Should geopolitical tensions intensify or begin to impact the financial system – through sanctions, infrastructure disruptions, or capital controls – the crypto market won’t be insulated,” Yossef said. “Bitcoin dominance is already approaching 66%, and that signals reduced risk appetite for altcoins in the current environment.”
