BTC falls to $66,000, Wall Street momentum fades as Fed discusses prospects of higher rates.

Bitcoin is on course for a fifth consecutive weekly decline, with price action hovering near a key support zone that could determine its next move.

After a muted start to Wednesday, BTC reversed lower during U.S. trading hours, dropping beneath $66,000 and pressuring the bottom of its recent consolidation range. The cryptocurrency had traded as high as $68,500 overnight but was down about 2.5% over the past 24 hours, last changing hands near $66,200.

Crypto-related equities tracked the weakness. Coinbase gave up an early 3% gain and slipped into a roughly 2% loss by the afternoon session. MicroStrategy (MSTR), the largest public corporate holder of bitcoin, fell around 3% as the decline in BTC weighed on sentiment.

Broader U.S. markets followed a similar trajectory, surrendering early gains before the close. Minutes from the January meeting of the Federal Open Market Committee struck a firmer tone than many expected. While policymakers agreed on holding rates steady, several participants suggested adopting “two-sided” guidance, signaling the Fed could consider raising rates again if inflation remains persistent.

The U.S. dollar strengthened further in response. The U.S. Dollar Index rose to its highest level in nearly two weeks, adding pressure to risk assets. A stronger dollar typically weighs on cryptocurrencies, and Wednesday’s pullback reflected that dynamic.

With momentum fading, bitcoin faces a critical test around the $66,000 mark — a level that previously held as support and sparked a rebound above $70,000. A sustained break below that floor could shift focus toward early February lows near $60,000 and potentially signal the start of a deeper corrective phase.