Live updates: Bitcoin steady as stocks slide following Fed rate hike, Warsh press conference

Key Points:

• President Trump criticized the Federal Reserve's recent rate hike, calling for U.S. interest rates to be lowered to 1% or less, citing America’s strong credit standing and trade deficits with many countries.
• The Fed raised its benchmark interest rate by 25 basis points to 3.75%-4%, marking the first hike in over three years, with expectations for one more increase this year to combat elevated inflation.
• U.S. stock markets fell following the rate hike, led by financial stocks due to concerns over a flatter yield curve impacting lender profits; meanwhile, bitcoin remained relatively stable around $75,400.
• Analysts and market experts expressed mixed views, with some criticizing the Fed for insufficient action and others warning that rate hikes could trigger a recession without addressing underlying issues like energy prices and government spending.
• Crypto investors showed a defensive shift ahead of the Fed announcement, increasing holdings in stablecoins while reducing conviction in bitcoin and ether, reflecting cautious sentiment amid ongoing regulatory uncertainties and stalled legislative efforts.