Bitcoin (BTC) Slides Under $76K Amid Fed Rate Decision and Trump’s Iran Rejection

Key Takeaways BTC slipped beneath $76,000 following the Federal Reserve’s decision to maintain rates between 3.5% and 3.75% Federal Open Market Committee meeting notes highlighted Middle East geopolitical risks as contributing to market “uncertainty” President Trump turned down Iran’s proposal to lift the Strait of Hormuz blockade ahead of nuclear negotiations Potential U.S. military action against Iran continues to loom, creating additional downward pressure on cryptocurrency markets Market analyst Ted Pillows identifies the $79,000–$80,000 zone as critical resistance BTC needs to break through Bitcoin’s price tumbled beneath the $76,000 threshold on Wednesday as markets digested two significant headline events: the Federal Reserve’s decision to maintain its current interest rate policy, and President Trump’s dismissal of Iran’s diplomatic overture. Bitcoin (BTC) Price The central bank maintained its federal funds rate within the 3.5%–3.75% range. Meeting minutes from the FOMC highlighted escalating tensions across the Middle East region as a primary source of economic “uncertainty,” influencing the committee’s cautious stance. BREAKING: The Fed is no longer expected to cut interest rates in 2026 after today's Fed decision. The odds of the Fed cutting interest rates this year just fell to a new low of 44%. For the first time since 1992, four Fed members dissented today's decision. pic.twitter.com/eBUCbTNBkF — The Kobeissi Letter (@KobeissiLetter) April 29, 2026 Following the publication of the FOMC minutes, Bitcoin experienced an intraday decline to $74,937. This price level positioned the leading cryptocurrency marginally beneath its 20-day simple moving average of $75,664, a technical indicator that market participants have been monitoring with considerable attention. Shubh Varma, CEO of Hyblock, characterized the movement as “the usual sell the news reaction after the FOMC.” He noted that Bitcoin managed to climb back toward pre-announcement price levels with...