Crypto Holds In Better Than Expected Amid Blockade Developments & Hawkish FOMC, Watching HYPE Post-Crude Spike
Apr 29, 2026
- Geopolitics and Rates Pressure Risk Assets: Crypto faced a combination of macro headwinds today, with reports of an extended U.S. blockade of Iran pushing crude higher (~$108). At the same time, the FOMC delivered a more hawkish tone than expected, including multiple dissents against maintaining an “easing bias.” Fed funds futures now reflect a reduced probability of cuts and even some marginal pricing of hikes into early next year.