Coinbase Institutional says Fed rate expectations, not the Binance hack, sank Bitcoin

Coinbase Institutional attributed Bitcoin’s recent decline primarily to shifting Federal Reserve rate expectations rather than the Binance hack, saying macroeconomic signals now dominate isolated crypto industry events. The report highlights Bitcoin’s growing correlation with Fed policy expectations, which overshadowed the exchange breach as a market driver. The Binance hack therefore had limited impact on Bitcoin’s price action compared with rate-related positioning. The takeaway is that BTC is increasingly trading like a macro-sensitive asset, with Fed expectations exerting more influence than exchange-specific shocks. Investors should watch upcoming Fed communication and rate-market pricing for the next directional signal in Bitcoin.