Bitcoin Tests Two-Week Low Near $62K on Tuesday as Fed Shift Triggers Risk-Off Selling

Bitcoin tested a two-week low near $62,000 on Tuesday, falling approximately 4%, as a shift in Federal Reserve policy under new Chair Kevin Warsh sparked a broader selloff in risk assets. Ethereum, XRP, and Solana each declined at least 5%, while the Nasdaq slid toward a one-week low.

Warsh's policy statement dropped forward guidance and signaled tighter monetary conditions, prompting traders to price in rate increases toward 3.75%–4% in July. Bank of America projected three hikes this year, reaching 4.25%–4.5% by year-end. The repricing of interest rate expectations drove selling across technology stocks—particularly semiconductors, with Micron and SanDisk down 12% and 13%—and underscored how closely cryptocurrency now tracks macro trends rather than crypto-specific catalysts.