Bitcoin and Ethereum Fall 5% as Traders Turn Bearish After Fed Decision

According to prediction market data from Myriad and Polymarket, Bitcoin and Ethereum traders turned more bearish on Thursday following Federal Reserve Chair Kevin Warsh's hawkish first FOMC meeting. BTC and ETH each fell approximately 5% in the last 24 hours, trading at $62,499 and $1,682 respectively. Market participants are now pricing in an 80% probability of zero rate cuts in 2026, with rate hike expectations rising instead.

On Myriad's prediction markets, odds of Bitcoin "dumping" to $55,000 surged to nearly 72%, while Ethereum traders increasingly favor a decline toward $1,500 at 83% odds. These prediction market moves have outpaced the coins' actual price declines, reflecting heightened pessimism among traders regarding near-term price movements.