According to ChainCatcher, Bitcoin fell below $65,000 before the Federal Reserve announces its interest rate decision, moving close to a key short-term support level. The Fed is scheduled to release the rate decision at 2:00 a.m. Beijing time on June 18, and the event is being treated as the main volatility catalyst for this week. With BTC already trading near an important short-term area, traders are focusing on whether the market can maintain its current structure around the announcement.
The June 18 FOMC decision becomes the central catalyst
This FOMC meeting is also the first meeting after Kevin Warsh became the new Federal Reserve chair. As a result, his remarks at the post-meeting press conference are being watched alongside the rate decision itself. For crypto traders, the combination of the policy outcome and the press conference may shape how price action develops after the event, especially as Bitcoin has already moved below the $65,000 level and is trading near a support zone that many short-term participants are monitoring.
Trader Killa said the FOMC could set the tone for the market during the remainder of June. He noted that BTC is currently building a bullish narrative around the event, while adding that outcomes are often priced in before the news is released. Killa also said that, if recent history is used as a reference, FOMC days usually produce more bearish reactions than bullish ones.
Traders split over $60,000, $55,000 and a post-FOMC rebound
Killa warned that Bitcoin needs to maintain a bullish market structure from its current area near $64,000. Otherwise, after this turning point, he said there is a high probability that BTC will retest the $60,000 lows. Another trader, Niels, said the FOMC meeting comes as a U.S.-Iran peace agreement is close to being reached. In his view, BTC may show some short-term strength, but could still eventually move down toward $55,000.
Cryptic Trades offered a more optimistic view. The analyst said Bitcoin may continue to rebound after the FOMC. According to Cryptic Trades, BTC has encountered resistance near a daily bull market support band formed by two key moving averages, but after the current pullback, the next major upward move is approaching. The debate around the FOMC therefore centers on whether Bitcoin can hold its short-term structure and how the market responds once the rate decision and related remarks are released.