Fed Hawkish Shift Slams Markets, Crypto Under Pressure at Sixty-Four K

Welcome to Stock Market Today — your market briefing with actionable insights on stocks, bonds, crypto, and the events moving markets. Let's get into it. Fed Chair Kevin Warsh just threw markets a curveball in his first FOMC decision. Rates held at three point five to three point seven five percent as expected, but the updated dot plot tells a different story. Median rate projections for twenty twenty-six jumped to three point eight percent from three point four in March. Nine of eighteen officials now pencil in hikes this year, with markets pricing sixty percent odds of an October move. Bitcoin's sitting at sixty-four thousand three hundred dollars, Ethereum at seventeen hundred forty-eight. Both assets under pressure as the dollar index approaches a breakout above one hundred point sixty. Bitcoin's negative zero point eight two correlation with the greenback over ninety days means dollar strength is a headwind. Strategy's preferred stock STRC hit a record low of eighty-nine dollars, eleven percent below par, forcing the company to pause Bitcoin purchases. Strategy sold Bitcoin for the first time ever on June first to fund preferred dividends—thirty-two coins for two point five million. The company now holds eight hundred forty-six thousand Bitcoin but only one point one billion in cash reserves against fifteen point five billion in preferred shares. Kentucky just became the eighteenth state to sue prediction markets Kalshi and Polymarket, arguing they're operating illegal sportsbooks. This could hit the Supreme Court within years. Equities showed rotation out of Magnificent Seven tech stocks into semiconductors. Memory chip makers surged after Apple CEO Tim Cook said price hikes are unavoidable due to chip costs. Micron up four point four percent, Intel jumped after Trump announced its foundry will make chips for Apple domestically. Gasoline prices finally broke below four dollars per gallon—three dollars ninety-nine ninety. Bond market flashing warnings. The ten-year two-year Treasury spread tightened to twenty-eight basis points, tightest since April twenty twenty-five, signaling the Fed's getting more hawkish. That wraps your market intel — trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot dot i o.