Bitcoin declined from $64,421 to $62,947, a drop of $1,474 or approximately 2.29% on the session.Not noise. Fed Chair Warsh's hawkish debut removed near-term rate-cut expectations, sending Bitcoin lower while equities rallied, a divergence that reflects capital rotation into AI-adjacent names rather than broad risk-off. Positioning is described by Marex analysts as defensive and thin, and the Fear and Greed index sits at 14, near its 30-day average of 19.
Fed Chair Kevin Warsh's first FOMC press conference signaled inflation concerns outweigh growth, eliminating the rate-cut expectations that had supported risk assets; Bitcoin slipped below $64,000 post-decision according to reporting from The Block.
BTC ETFs posted an $82.2 million net outflow per The Block, while equities rose sharply, with the NASDAQ-100 up 2.48% on the day, underscoring a rotation story rather than a systemic risk-off event.
JPMorgan estimates the current bitcoin production cost at approximately $78,000, meaning BTC at $62,947 is trading roughly $15,000 below aggregate miner break-even, a condition historically associated with miner revenue stress.
Strategy's STRC preferred stock closed at $88.59, below its $90 par value for a second consecutive day, which per CoinDesk has paused the above-par share sales the company uses to fund Bitcoin purchases and contributed to the company's first BTC sale this cycle.
Network fundamentals remain stable with hash rate above 930 EH/s and transaction fees at 2 sat/vB, reflecting a secure and uncongested network even as price trades near the 30-day range low.
Market Snapshot
Market Cap
$1.26T
24h Volume
$31.33B
Dominance
55.9%
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