Something interesting happened today - while Asian stocks were actually having a decent day (Kospi hit records, Nikkei up 0.85%), pretty much every major crypto token was getting hit. Bitcoin hovering around $74K, Ethereum down to $2.33K, Solana dropped over 2.5%, XRP even worse. Meanwhile tech stocks rebounded on that Nvidia-Meta chip deal news. Crypto just didn't care.

The culprit? Fed minutes showed zero urgency on rate cuts and even left the door open for more hikes. Stronger dollar immediately followed, and that's what led price action lower across the board - when the dollar gets stronger, risk assets typically feel the squeeze. Gold's been quietly absorbing all this uncertainty like it always does, which is getting people to question whether Bitcoin can still claim the 'digital gold' crown.

What's weird is the bounces keep getting sold into. We're not seeing panic unravels anymore, but we're also not seeing sustained buying that would actually shift momentum. Market's stuck between relief rallies and a macro environment that's just not supportive enough yet. Funding rates staying negative for weeks suggests traders are still cautious despite the attempts to stabilize.