Bitcoin pulled back after meeting resistance at $73,000, sliding to $71,000. The source linked the move to weakness in US equities, as traders reacted to a worsening Middle East situation and positioned defensively ahead of the Federal Reserve rate decision.
The Fed kept rates unchanged, matching market expectations. Expectations for one rate cut in 2026 were also left in place. Price action stayed relatively calm after the announcement, and the market did not see a major swing during Jerome Powell’s remarks. According to the report, participants are waiting to assess policy direction after a new Fed chair takes office.
Powell points to jobs, energy risks and tariffs
During the press conference, Powell repeatedly referred to the US labor market, the Middle East energy crisis and tariff issues as factors complicating policy decisions. Oil price volatility was highlighted as a source of uncertainty for inflation. The source added that this could raise the risk of supply disruptions in the US and affect the Fed’s policy path.
That macro pressure is hanging over risk assets. If the US economy weakens, both equities and crypto could come under pressure, which helps explain why Bitcoin moved lower alongside stocks.
$70,000 seen as the key near-term support
The article said that if the Fed signals at its next meeting that rising energy costs and new tariffs will prevent rate cuts before year-end, global liquidity may rotate toward lower-volatility assets for safety. In that setup, $70,000 is being watched as Bitcoin’s critical short-term support.
Holding that level would shape the market’s reading of the move, whether it is a healthy pullback or a return of bearish sentiment. If it breaks, the source listed possible downside levels at $65,000 and $60,000, with a deeper move potentially reaching $54,000.