“Following the Fed’s minutes, Bitcoin extended declines after no dovish surprise emerged,” Moya said. “The Fed’s gonna be aggressive here and that is going to be short-term trouble for risky assets like bitcoin.
“The shocker here could be that the Russia/Ukraine conflict sidelined a .50% hike in March,” he added. “So as geopolitical tensions persist, some may question how that will factor into the Fed’s future decision making.