Bitcoin, Ethereum Dip as Fed Holds Rates Steady for Third Straight Time

The Federal Reserve held its benchmark rate at 3.50%–3.75% for a third time this year, a policy decision that kept risk appetite muted and coincided with a short-term pullback in crypto: Bitcoin traded near $75.1k (down ~1.4% 24h) and Ethereum around $2.24k (down ~2.3% 24h). Geopolitical tensions in the Middle East have pushed energy costs higher (U.S. gas average $4.22/gal, +6.2% month-over-month), adding uncertainty that may cap risk-asset upside. The Senate Banking Committee advanced Kevin Warsh’s nomination to lead the Fed and the DOJ ended its probe into Chair Jerome Powell, reducing a political overhang. Market pricing (CME FedWatch) still largely discounts rate cuts this year, leaving monetary policy supportive of risk assets only in the longer term. Overall, the piece frames a mixed market impact: near-term downward pressure on crypto and other risk assets amid geopolitical-driven energy price moves and a neutral-to-cautious Fed stance.