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Bitcoin has declined by over 2% to $75,515 as investors flee riskier assets amid escalating tensions in the Strait of Hormuz.
The Federal Reserve maintained interest rates at 3.75 %, yet the decision revealed the most significant internal division among board members since the early nineties.
Japanese firm Metaplanet is currently facing a massive $490 million unrealised loss on its substantial Bitcoin holdings, raising fears of a potential forced liquidation event.
Crypto prices today are under heavy pressure as a perfect storm of geopolitical tension, surging oil prices, and Federal Reserve uncertainty weighs on investor confidence. Bitcoin is trading at $75,515, down 2.15% in the last 24 hours, while most of the top ten coins are also in the red zone.
The broader sell-off comes as Brent crude rockets past $120 a barrel on fears that the US-Iran standoff could last months, pulling risk assets, including crypto, lower. With the Fed wrapping up what may be its most divided meeting in over three decades, here is everything you need to know about crypto prices today.
Bitcoin price is sitting at $75,515, down 2.15% over the past 24 hours, with a market cap of roughly $1.51 trillion and trading volume of $40.3 billion. After weeks of trading near the $80,000 range, BTC has been dragged lower alongside traditional risk assets as investors worry about inflation, energy costs, and the ongoing Middle East conflict.
CoinSwitch Markets Desk noted, “BTC hovered near the $75,000 level after the Fed kept rates unchanged for a third straight meeting, as the Fed pointed to elevated energy prices and ongoing Middle East tensions. This suggests financial conditions may stay tight for now, which can moderate near-term risk appetite across markets. For now, $75,000 continues to act as a key support, while $76,500 is the immediate resistance.”
Here’s how the world’s top ten coins performed over the last 24 hours.
Here are the top headlines impacting crypto prices today.
Brent crude surged past $120 a barrel after US President Donald Trump said the naval blockade of the Strait of Hormuz will stay in place until Iran agrees to give up its nuclear program. Oil earlier was trading near $110 before Trump's comments pushed it even higher, with analysts calling for $140 next. Rising energy prices push up inflation, which in turn can hurt risk assets like crypto as investors move to safer ground.
The Federal Reserve kept interest rates unchanged at 3.75%, but the vote showed deep cracks inside the central bank. Four members voted against the decision, the biggest split since 1992. Fed Chair Jerome Powell, who confirmed this was his final press conference as chair, said March PCE inflation is likely to come in at 3.5%, partly because of rising energy costs tied to the Iran conflict. He also warned that the next meeting could signal a shift away from the current policy, something that could either help or hurt crypto depending on which way rates move.
Avinash Shekhar, Co-Founder & CEO, Pi42, noted, “The Fed’s decision to hold rates steady has reinforced a higher-for-longer interest rate environment, which typically limits excess liquidity flowing into risk assets like crypto. In the immediate term, Bitcoin and Ethereum may see some downward pressure or continued consolidation as markets adjust to delayed rate cut expectations and a more cautious global stance.”
Powell said he will remain on the Fed board after May 15 even though Kevin Warsh takes over as chair. He made it clear, "I will never be a shadow chairman." For crypto, this removes some uncertainty; two voices pulling in different directions at the Fed could have spooked markets further. A smoother transition may help stabilize sentiment around interest rate expectations.
Senator Thom Tillis said the Digital Asset Market Clarity Act is ready to move forward, clearing a key roadblock. A mid-May Senate Banking Committee markup hearing now looks possible. If passed, the bill would bring long-awaited regulatory clarity to crypto markets, a move that has historically lifted prices when progress is made.
Starting today, Japan's Rakuten Wallet users can convert Rakuten Points into XRP and use it for spot trading and payments at over 5 million merchants via Rakuten Pay. This kind of real-world utility adoption is exactly what XRP bulls have been pointing to, and it could support XRP price even as the broader crypto market faces headwinds.
Japanese investment firm Metaplanet, which holds 40,177 Bitcoins bought at a total cost of around $4.18 billion, is sitting on an unrealised loss of roughly $490 million as Bitcoin has pulled back. Its stock has also fallen by over 83.5% from its peak. With its market cap now below the value of its Bitcoin holdings, questions are growing about whether the company can hold on or whether it could become a forced seller, which would add extra pressure to the Bitcoin price.
A joint FBI operation across Dubai, China, and Thailand shut down at least nine crypto scam centres and arrested 276 people. The schemes tricked victims into fake online relationships before pushing them toward fraudulent crypto investment platforms. The operation reportedly stopped around $562 million in potential losses. Crackdowns like this can boost long-term trust in the crypto market, even if they have little immediate impact on prices.
Also Read: Dogecoin Price Analysis: How Elon Musk and Internet Culture Influence DOGE
Crypto prices today face short-term headwinds from the Iran-oil shock and Fed uncertainty, but two potential catalysts, the US crypto clarity bill advancing and XRP's growing real-world use, offer reasons for cautious optimism. Investors should keep an eye on how oil prices and ceasefire talks develop in the coming days, as any resolution in the Strait of Hormuz could quickly shift market mood.
Avinash Shekhar, Co-Founder & CEO, Pi42 commented, “From here, the market will be driven more by signals around inflation and future Fed commentary than the hold decision itself. For investors, this is a phase to stay disciplined with staggered entries rather than reacting to short-term volatility. Focus on gradual allocation into Bitcoin and Ethereum, maintain a medium to long-term view, and avoid overexposure during intraday swings."
1. Why is Bitcoin price going down?
The primary reason for the current price drop is a combination of rising oil prices and geopolitical conflict between the United States and Iran. When energy costs spike, it creates fear of higher inflation, leading many investors to sell their volatile crypto assets in favour of safer investments like gold or cash.
2. What happened at the latest Federal Reserve meeting?
The Federal Reserve decided to keep interest rates steady at 3.75 percent, but the vote was highly controversial, with four members dissenting from the final choice. Outgoing Chair Jerome Powell warned that rising energy costs are pushing inflation higher, which makes the future of interest rate cuts very uncertain for everyone.
3. How is the situation in Iran affecting the crypto market?
President Trump announced that the naval blockade of the Strait of Hormuz will continue, oil prices have jumped past $120 per barrel. This global instability makes the entire financial market nervous, creating a "risk-off" environment in which traders pull their money out of digital currencies until conditions stabilize.
4. What is the new update regarding XRP and Rakuten?
In a positive turn for utility, Rakuten Wallet users in Japan can now convert their loyalty points into XRP for use at millions of different merchants. This partnership allows people to use XRP for everyday payments through Rakuten Pay, showing that some coins are still gaining real-world value despite the current price dips.
5. Is there any new crypto regulation?
Senator Thom Tillis has indicated that the Digital Asset Market Clarity Act is finally moving forward and may be scheduled for a committee hearing in mid-May. If this bill passes, it would provide much-needed legal rules for the industry, which many experts believe will eventually help crypto prices recover and grow more steadily.
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