Bitcoin and Ethereum sold off after the Federal Reserve held rates steady in June but signaled a more hawkish path, with policymakers projecting just one rate cut this year. Powell said officials were willing to wait for clearer evidence that inflation was cooling before easing, reinforcing a higher-for-longer backdrop that tends to support the dollar, keep Treasury yields elevated, and pressure risk assets like crypto. On the reaction, Bitcoin fell to just below $66,000, while Ether traded around $3,500.