According to a June 18 report from TechFlow, CryptoQuant analyst Axel Adler Jr. said the Federal Reserve kept the federal funds rate unchanged in the 3.50%-3.75% range. While the policy rate itself was left steady, Adler noted that the dot plot sent a hawkish signal, reducing support for risk assets.
Bitcoin retreats while gold recovers
Against that backdrop, Bitcoin once fell by about 4% from around $66,400 and dropped below the $64,000 level. Adler said there had not yet been clear dip-buying demand after the decline, indicating that immediate buying support was not obvious.
Gold moved differently. After dipping, it quickly rebounded and climbed back above $4,300. Adler said the divergence reflected a cooling in market risk appetite, with capital showing a stronger preference for defensive assets.