Bitcoin Slides Below $27K as Stocks Recover from Fed Rate Hike Signal

Bitcoin fell to $26,700 after Fed signaled likelihood of another interest rate hike to curb inflation.

Stocks initially fell but recovered to close higher, while Bitcoin faced selling pressure throughout the day.

Analysts see downside risk for Bitcoin based on technical indicators like support levels and fair value gaps.

Altcoins also declined, with Request as the only notable gainer and Storj leading the losers.

The crypto market cap stands at $1.05 trillion, with Bitcoin dominance at 49.8%.