Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly

The Federal Reserve this Wednesday projected only one rate cut for this year, less than the central bank’s previous forecast, dashing investor hope for looser monetary policy coming this summer. Political uncertainty in Europe with a snap election being called in France also pushed the U.S. dollar index (DXY) higher against other major currencies to its strongest level in more than a month, putting pressure on bitcoin.