Bitcoin battles to maintain $65,000, but market prospect remains positive
Bitcoin (BTC) is close to losing the $65,000 price level at the time of writing, losing 2.7% in the last 24 hours. The price slump comes nearly 48 hours after the FOMC announced it would hold interest rates in the US, a decision that reflects the Fed’s focus on balancing inflation control with economic stability. Bitfinex analysts already expected this short-term volatility, although the overall trend remains positive.
“Especially if the broader economic outlook continues to improve. Historically, 3 out of the last 4 CPI prints have also led to local tops for Bitcoin, indicating potential volatility around such announcements,” explained the analysts. “Bitcoin could consolidate around current levels or experience moderate gains as investors remain optimistic about future rate cuts later in the year.”
Additionally, it also affects spot Bitcoin exchange-traded funds (ETFs) flows, as they may stabilize after the hold decision caused by investors’ hesitance before clearer signals from the Fed’s future policy come out.
“Spot Bitcoin ETFs might see steady inflows, but the momentum could be less pronounced compared to a rate cut scenario. The launch of Ether ETFs could still attract significant interest, potentially leading to diversified investments across both Bitcoin and Ethereum ETFs.”
Moreover, the trader who identifies himself as Rekt Capital, highlighted on X that Bitcoin got rejected by the range high of the current accumulation range, which consists of a low at $60,500 and a high at $71,500.
As the trader highlighted earlier in June, this rejection makes BTC bound to stay in this range until September, when the start of a parabolic upward movement is expected.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Powell faces the ultimate test: At least three dissenters at the December meeting, Federal Reserve consensus collapses!
The "Fed mouthpiece" reported that internal divisions within the Federal Reserve have intensified amid a data vacuum, with three board members appointed by Trump strongly supporting a dovish stance, while the hawkish camp has recently expanded.
Weekly Hot Picks: Data Disappearance Doesn’t Stop the Fed’s Hawkish Stance! Global Multi-Asset Markets Face “Backstabbing”
The U.S. government shutdown has ended, but the release of key data remains chaotic. The Federal Reserve has sent frequent hawkish signals, causing significant declines in gold, silver, stocks, and currencies on Friday. The U.S. has launched Operation "Southern Spear". Buffett delivered his farewell letter, and the "Big Short" exited abruptly. What exciting market events did you miss this week?


SignalPlus Macro Analysis Special Edition: Is It Going to Zero?
Over the past week, cryptocurrency prices declined once again. BTC briefly reached $94,000 on Monday due to lighter selling pressure before pulling back, and major cryptocurrencies saw further week-on-week declines...
