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Bitcoin retreated toward $65,000 ahead of the Federal Reserve’s policy decision as traders cut risk and reassessed the outlook for interest rates under newly appointed Fed Chair Kevin Warsh.
Bitcoin fell from near $67,200 to around $65,236 ahead of the Fed’s June 17 rate decision as traders reduced risk. At press time, it had stabilized near $65,300. The pullback followed a June 16 high of near $67,200 and an intraday low around $65,236 on June 17, according to data cited by crypto.news.
Investors focused on the outcome of the Federal Reserve’s two-day policy meeting, with policymakers expected to keep rates unchanged at 3.50%–3.75% when the decision is released later on June 17.
Attention also shifted to the Fed’s updated dot plot and Warsh’s first post-meeting press conference. Traders increasingly weighed whether policymakers would abandon any remaining easing bias and reinforce expectations that borrowing costs could stay elevated for longer, given inflation running above 4%.
The cautious mood extended beyond crypto. Gold and silver traded modestly lower during the session, while crude oil slid toward $75 per barrel for a fifth consecutive day. Markets were pricing in the possibility of renewed Iranian oil exports under a proposed U.S.–Iran agreement.
In Asia, technology stocks continued to attract capital, with Japan’s Nikkei 225 reaching fresh record highs above 70,000 amid ongoing enthusiasm for artificial intelligence investments.
Bitcoin’s rebound from below $60,000 has stalled near a major technical resistance zone. On the daily chart, BTC returned to a support-turned-resistance region between roughly $65,200 and $65,800. The area had acted as a key floor during February and March before breaking during the sharp selloff earlier this month. BTC briefly reclaimed the zone before slipping back underneath it.
Momentum indicators were mixed. The daily RSI recovered from oversold territory but remained below the neutral 50 level, while the MACD continued to trade beneath its signal line despite narrowing bearish momentum.
On the four-hour chart, Bitcoin fell back below the 61.8% Fibonacci retracement level near $65,016 after failing to sustain a breakout above the 50% retracement around $66,829.
Macro developments were described as the primary risk factor heading into the Fed announcement. While falling oil prices eased some inflation concerns, geopolitical uncertainty persisted after Iran accused Israel of violating a Lebanon truce dozens of times and warned of a harsh response if attacks continue.
Tehran also linked any final agreement with Washington to sanctions relief, the release of frozen assets, and an Israeli withdrawal from Lebanon.
The combination of Fed uncertainty, geopolitical risks, and ongoing institutional caution kept Bitcoin below major resistance despite recovering from its June lows.
A break above $68,000 could expose next liquidity zones near $74,000 and $78,000, where large concentrations of leveraged positions remain.
On the downside, losing support around $63,700 would likely shift attention back to $60,000. A decisive move below $60,000 could open the door toward the $55,000–$50,000 region highlighted by several market analysts.
