Cryptocurrencies are trading on a mildly negative note as markets digest the potential rate hikes from the Fed while heaving a sigh of relief at the signing of the U.S.-Iran peace deal to end the Middle East conflict. BTC traded between $66,354 and $63637 in the past 24 hours. Overall crypto market capitalization decreased a little more than a percent during the same period.
The Federal Reserve on Wednesday, unanimously decided to hold rates steady at 3.50- 3.75 percent. The FOMC acknowledged that economic activity was expanding at a solid pace despite the elevated uncertainty from the Middle East conflict. The Committee noted that inflation was elevated relative to the Committee's 2 percent goal and committed itself to delivering price stability.
In the Summary of Economic Projections released simultaneously, the Fed has lowered the GDP growth projection for 2026 to 2.2 percent from 2.4 percent made in March. The unemployment rate projection has also been lowered to 4.3 percent from 4.4 percent projected in March. The Fed expects PCE inflation to jump to 3.6 percent in 2026 from the level of 2.7 percent it had forecast in March. The core PCE is also projected to rise to 3.3 percent from the level of 2.7 percent it had projected at the time of the FOMC in March.
Hints of rates going up have however dampened crypto market sentiment. The Federal Funds rate is projected to rise to 3.8 percent in 2026, from 3.4 percent, the level that was anticipated while drawing up projections in March 2026. The projection of federal funds rate for 2027 has been raised to 3.6 percent from 3.1 percent projected in March whereas the projection for 2028 has been increased to 3.4 percent from 3.1 percent projected in March. The longer run projection has however been retained at 3.1 percent.
According to the CME FedWatch tool that tracks the expectations of interest rate traders, the likelihood of the Federal Funds rate remaining at the current level of 3.50-3.75 percent by the end of 2026 is only 16 percent currently. It was 20 percent a day ago and 42 percent a week ago. With markets pricing in Fed rate hikes, the crypto market sentiment failed to be materially revived by the signing of the peace deal to end the war in the Middle East. In tandem with the market mood, the CoinMarketCap's Fear and Greed Index, a measure of the sentiment prevailing in the cryptocurrency market remains steady at 22, implying a state of fear.
Aggregate crypto market capitalization has shed 1 percent in the past 24 hours to $2.21 trillion. Among the top 100 cryptocurrencies, only 11 are trading with overnight gains of more than a percent whereas close to 60 cryptocurrencies are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading 1.3 percent lower at $63,972. The current price is around 49 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has rallied 1.8 percent in the past week but is still saddled with losses of close to 27 percent on a year-to-date basis.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $82 million on Wednesday versus net inflows of $10 million on Tuesday. ARK 21Shares Bitcoin ETF (ARKB) topped with net outflows of $44 million followed by iShares Bitcoin Trust (IBIT) that recorded net outflows of $31 million.
Bitcoin continues to be ranked 15th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Bitcoin is the only cryptocurrency ranked among the top 100 in the above-mentioned global ranking.
Ethereum (ETH) erased 1.7 percent overnight as it traded at $1,740.93. The leading alternate coin is trading 65 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,793.03 and $1,721.31.
Ethereum Spot ETF products in the U.S. witnessed net outflows of $29 million on Wednesday versus net inflows of $10 million on Tuesday.
4th ranked BNB (BNB) slipped 2 percent overnight resulting in price decreasing to $589.04. BNB is trading 57 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency lost 1.9 percent overnight and is currently trading at $1.17, around 69 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 1.3 percent overnight to $71.44. SOL's current price is around 76 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall gained 0.25 percent overnight and is currently changing hands at $0.3206. The trading price is 27 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Hyperliquid (HYPE) plunged 1.7 percent overnight, to trade at $71.43, around 7 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall lost 1.3 percent overnight and is currently trading at $0.0847. DOGE is trading 89 percent below the peak price of $0.7376 recorded on May 8, 2021.
65th ranked Humanity (H) topped overnight gains among the top 100 cryptocurrencies with a surge of more than 20 percent.
84th ranked Audiera (BEAT) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 18 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.