Bitcoin Price Plummets Below $76,000 Amid US Federal Reserve's Hawkish Monetary Policy Stance

Cryptocurrency Market Sees Slight Decline Following US Federal Reserve Decision

The cryptocurrency market experienced a slight decline on Thursday, April 30, with Bitcoin trading below $76,000 for the second day in a row. The Federal Reserve's decision to hold interest rates steady has led to persistent market caution amid broader macroeconomic uncertainties. According to experts, the Fed's decision to hold rates unchanged met market expectations, but Bitcoin remained under pressure during Chairman Powell's press conference.

Key Market Indicators

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Bitcoin fell to an intraday low of $75,348, just below its 21-day simple moving average of $75,664, which traders had been eyeing as potential support. Despite the near-term dip, April is on track to end strongly, with Bitcoin gaining nearly 12% for the month. The rally has been supported by steady institutional inflows into spot Bitcoin ETFs and rising open interest on the CME.

Looking ahead, the next major trigger for the market could be developments around the CLARITY Act, which is expected to play a key role in shaping regulatory clarity and investor sentiment in the weeks ahead. According to Avinash Shekhar, Co-Founder & CEO of Pi42, the Fed's decision to hold rates steady reinforces a 'higher-for-longer' interest rate environment, which typically restricts excess liquidity flowing into risk assets such as crypto.

In the near term, Bitcoin and Ethereum may face mild downward pressure or continued consolidation as markets adjust to delayed rate-cut expectations and a more cautious global outlook. However, Shekhar believes that any downside is likely to be measured rather than sharp, with Bitcoin already oscillating in the $74,000-$78,000 range and Ethereum in the $2,250-$2,350 band—suggesting that a significant portion of macro uncertainty is already priced in.

For investors, Shekhar advised that this is a phase to remain disciplined, focusing on staggered allocations rather than reacting to short-term volatility. A gradual approach to accumulating Bitcoin and Ethereum, combined with a medium- to long-term perspective, is advisable, while avoiding overexposure during intraday swings. Structurally, rising institutional participation and sustained adoption trends continue to provide underlying support, indicating that any price softness reflects liquidity timing rather than a fundamental shift in the broader digital asset narrative.

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