Bitcoin (BTC), which is a digital currency, dropped below $65,000 as traders anticipated the effects of an important macro event.
The following are key points.
- Bitcoin nears the Fed rate announcement for next year.
- BTC Price Analysis warns of BTC’s volatility “bearish” FOMC days are often accompanied by movements.
- The next target is $55,000.
BTC Price Analysis: FOMC Could “set the tone” The month of June
TradingView data showed that Bitstamp’s intraday lows were $64,782.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The US Federal Reserve was due to decide on changes to interest rates at 2 p.m. Eastern time — a move that formed the week’s main volatility catalyst.
Kevin Warsh will be chairing the Federal Open Market Committee for the first time, so his comments at the press conference that follows the meeting are just as significant as the outcome.
You can also read about the advantages of using Cointelegraph reportedWarsh was under pressure from the US and Iran war to reduce rates, despite inflationary effects.
“FOMC could set the tone for the rest of the month,” trader Killa wrote Post X on this topic.
Killa observed that BTC prices tend to fall around Fed announcements.
“Right now, BTC is forming a bullish narrative into the event, but as I always say, the outcome is usually priced in before the news is released,” Continued.
“If recent history is any indication, we have generated far more bearish reactions than bullish ones.”
BTC/USD graph with FOMC meetings highlighted. Source: Killa/X
Bitcoin experienced an increase in value on Tuesday. loss of momentumEven as the stock market rose on Iran’s relief. Analysts had warned of a price increase. likely stall above $67,000 As demand was subdued.
“We need to maintain bullish market structure from here… (64K). If not, there’s a strong chance we revisit the $60K lows after this pivot,” Killa warning
Bitcoin trader keeps $55,000 as target
Included are other perspectives “short-term bounce” Bitcoin should be purchased before the return of the bear markets.
Related: Bitcoin miner ‘capitulation’ comes as trader sees later 2026 bear-market bottom
“FOMC meeting is happening today, exactly when the US-Iran peace deal is very close,” Niels is the co-founder and marketing director of STABL. told X-Followers
“IMO, Bitcoin could show some strength but eventually it’s going to $55,000.”
BTC/USDT one-day chart. Source: Niels/X
The Cryptic Trades analytics account was more positive, predicting that the recovery would continue after the FOMC.
BTC/USD had been rejected by two moving averages which together make up the daily bull market’s support band for Bitcoin.
BTC/USD chart showing bull market with support band. Source: Cointelegraph/TradingView
“However, after this pullback, the next big leg up is coming,” The Cryptic Market predicted.
BTC/USD one-day chart. Source: Cryptic trades/X
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
