Bitcoin price fell less Key support near $64,000 after a hawkish shift from the Fed erased gains associated with easing geopolitical tensions, putting the market at risk of a deeper pullback toward the $60,000 range.
Bitcoin price fell from a June 17 high of $66,315 to an intraday low near $62,000 during early June 18 trading, marking a 4% decline. Price action has stabilized near $62,500, although momentum remains fragile as overall pressure builds.
Federal Reserve detained The benchmark interest rate held steady at 3.50% to 3.75% but indicated a tougher policy path through the updated forecast. Policymakers lowered their expectations for lower interest rates and left the door open to the possibility of raising interest rates again. Chairman Kevin Warsh also noted a shift away from forward guidance, adding to uncertainty in financial markets.
The reaction sparked a widespread risk-off movement. Cryptocurrency markets fell along with stocks linked to growth and liquidity, while the US dollar index rose to its highest level in more than a year. Rising yields and a stronger dollar tend to impact assets like Bitcoin that rely on abundant liquidity.
This decline came despite the supportive geopolitical development. The United States and Iran outlet An interim agreement reopened the Strait of Hormuz and allowed Iranian oil exports to resume. Oil prices fell toward $75 a barrel, a move that would normally support risk assets.
Bitcoin failed to respond, underscoring the dominance of monetary policy in shaping near-term sentiment.
according to Bitcoin Pro Magazine DataAttention has also turned to the upcoming Bitcoin options expiration on June 26, which carry approximately $10.5 billion in open interest. Call options are congregating near the $80,000 strike, while put demand has built near $60,000. The current “pain limit” level is near $74,000, which is well above spot prices, leaving many bullish positions under pressure and increasing the potential for hedging flows.
Bitcoin price levels
Bitcoin price momentum has slowed. It has a Relative Strength Index Move Towards neutral territory, while money flow indicators show lower buying pressure.
On the daily chart, Bitcoin price remains below key resistance levels, including the 61.8% Fibonacci retracement near $65,000 and broader trend resistance near $68,400. Trend indicators continue to favor sellers, reflecting a continuation of the downtrend that began after the May highs.
Liquidity data highlights clear battleground levels. There are large clusters of liquidation interest above the price near $65,000 to $67,000, while bearish liquidity is concentrated around $63,500 and $62,000. These areas may act as price magnets as leverage increases.
Market participants are monitoring whether… The $62,000 level could hold. A sustained move below this range could open the way towards $60,000 and the June low below $60,000. A deeper bounce remains possible if macro conditions tighten further, with extreme scenarios pointing towards the $50,000 area based on previous cycle behavior.
Institutional flows pose another challenge. US-listed spot Bitcoin ETFs recorded outflows in recent sessions, indicating lower demand from large investors. Meanwhile, the Coinbase Premium Index remains negative, indicating weaker buying activity from US-based participants.
However, there are mixed signals beneath the surface. Big Bitcoin holders increased Accumulation, as wallets holding at least 1,000 BTC reached their highest levels since March.
Exchange reserves also declined, indicating continued long-term holding behaviour.
Right now, the price of Bitcoin appears to be between $60,000 and $70,000, as the markets look for direction. A reclaim of $65,000 followed by a move above $67,000 could restore bullish momentum and shift focus towards $70,000.
However, failure to maintain current support would enhance downside risks as macro headwinds remain under control.
