Was very surprising the price dropped $1000 due to the Fed's statements. I expected an immediate $1000 increase to $27k, instead it was an immediate $1000 drop.

They didn't hike the rate, which is what people expected, and would have likely led to a $1000 or more boost in Bitcoin's price in the aftermath, which is what I expected. But I guess everyone is freaking out because the Fed said two more rate hikes are likely later this year. Basically the Fed just wants people to know they are still open to the possibility of a couple more hikes if inflation doesn't keep going down steadily in the coming months in the absence of rate hikes. But this apparently reallllly freaked out the Bitcoin market, which is why we got the $1000 drop. Alternatively maybe just some big whales used that news as a reason to try to scare people and sold en masse to drop the price and get in lower and the market reacted by getting scared. Either way, I would expect $25k to not last long and we'll see the price at least come back to $26k in the coming days as there is really no reason to be scared.

But of course the SEC attacking crypto will drag on until Congress actually does something about crypto regulations so Bitcoin price growth should be expected to be more of a grind upward than a jump upward in at least the mid-term than from what we would normally expect at this point in the market cycle when the bear market has ended and Bitcoin is recovering into the next big bull market.