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Markets volatile as BTC hits $67K and gold rebounds. Kevin Warsh’s Fed nod signals hawkish shifts, while Goldman cuts ETF stakes and Backpack hits $1B valuation.

Crypto markets plunged as $600B was wiped from the cap. BTC hit $70K and silver fell 30%. Plus, Trump’s Fed pick, CME’s Google coin, and $HYPE’s breakout.

Wednesday’s FOMC meeting delivered no change to interest rates, which remain in the 3.50–3.75% range, with Fed Chair Jerome Powell striking an optimistic tone, noting the U.S. economy is holding up well despite geopolitical tensions and tariffs. Equities pushed higher, with the S&P 500 hitting 7,000 for the first time, while gold and silver continue to print fresh all-time highs, with gold above $5,500/oz and silver above $117/oz. In contrast, Bitcoin remains range-bound between $87K–$90K, and ETH continues to chop around $3,000.

Volatility returned as markets reacted to rising US EU tensions over Greenland. Both traditional markets and crypto sold off sharply, with the S&P 500 erasing its 2026 gains before rebounding. Bitcoin fell from $95K to $88K, then recovered to around $90K after more constructive comments from President Trump, who said a framework for a future deal had been discussed and signaled a step back from tariff threats.

Markets rallied as geopolitical uncertainty pushed gold and silver to new all time highs, with Bitcoin also catching a bid as a potential safe haven and inflation hedge, raising the question of whether BTC is finally behaving like digital gold. Bitcoin is trading around $97K, alongside record strength in precious metals.

Markets started the week with a brief rally, with Bitcoin pushing up to $94K, but the move quickly faded and BTC is now trading below $90K. Sentiment weakened further as U.S. spot Bitcoin ETFs recorded more than $486 million in outflows, signaling renewed caution from investors.

Markets continue to chop sideways, with Bitcoin ranging between $84K and $92K and Ethereum trading below $3K, reflecting a lack of conviction and thin liquidity.