Cryptocurrency Pares Back Gains as Fed Meets -- Market Talk

Dow Jones04-28 21:37

0937 ET - Cryptocurrency investors are locking in recent gains ahead of whatever guidance the Fed produces following its two day FOMC meeting that began today. "Forward guidance will be critical, especially as global central banks navigate inflation risks linked to geopolitical developments in the Middle East," says Konstantinos Chrysikos of Kudotrade in a note. "A more cautious monetary policy stance could drive Treasury yields up and weigh on non-yielding assets like bitcoin." Roughly $93 billion in long positions in bitcoin have been liquidated in the past 24 hours, according to data from CoinGlass. Bitcoin is down 1% to $76,212, while ethereum falls 0.8% to $2,274, according to LSEG data. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

April 28, 2026 09:37 ET (13:37 GMT)

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