Key points:
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Now, the odds of lowering the Fed’s interest rate this week are less than 0.1%.
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If the critical support level is damaged, the price of BTC could drop to $92,000.
Bitcoin (BTCPrice’s tensions escalated Tuesday, with another attempt at resistance on Tuesday losing $110,000. Since June 5, BTC prices have been unable to fall to above $112,000.
With the Federal Open Market Committee (FOMC) meeting on Tuesday and Wednesday, the market may see volatile price fluctuations volatility towards key BTC price levels in the coming days. The policy decision on interest rates will be held at 2.00 pm EST on Wednesday.
99.9% chance rate won’t change
According to CME, the current interest rate will keep the chance of 99.9% between 4.25% and 4.50%, reducing the probability of only 0.25%. FedWatch Tools.
However, market participants said any bearish price action that did not change interest rates were priced.
Market participants are now shifting their focus to the speech of the U.S. Federal Reserve Chairman after the FOMC meeting. The Fed and Powell are Under pressure from US President Donald Trump Lower interest rates.
Therefore, the market will be keen to watch Powell’s language at the FOMC press conference to see if there is any change in the tone.
“If someone from Powell comes out, that’s extra fuel for the Bulls,” explain Private Wealth Manager Swissblock in a post on Tuesday about X, adding that the downgrade of geopolitical risks will allow Bitcoin to “move quickly, target bear liquidation.”
Swissblock manager also noted that Bitcoin’s funding rate turned negative after the Israeli-Iran hostilities escalated, which increased the chances of narrative change.
“With negative funding, now the bear has been overexposed…this opens the door for potential squeeze.”
Meanwhile, Polmarket is now explain By June 30, the price of Bitcoin will drop to $100,000, with a 23% chance, with a potential of 42% New all-time high above $115,000.
Key Bitcoin price levels to watch
Bitcoin must Count down all-time highs to $112,000 Supports raising it to price discovery.
To do this, BTC/USD must first regain its position on a psychological level of $108,000. The last time that level was broken was on May 21, when Bitcoin rose to new all-time highs.
First, there is a major supply zone that extends from $109,000 to $110,500, and the Bulls will have to overcome that goal, too.
Instead, the Bears will try to keep the $106,000 resistor in place, increasing the possibility of lowering the price. The key area is between $104,000 and is currently the 50-day simple moving average (SMA), while the previous range low was $102,800.
Below this, the next step will be a retest of the psychological level of $100,000, with a SMA of $95,800 for 100 and 200 days, while $94,600 is the key level.
Related: Bitcoin price highest indicator, with its 10-year+ record remaining “neutral” at $112K
Cryptocurrency company QCP notes that Bitcoin’s price remains flexible and is based on the continuous accumulation of institutional accumulation, citing Metaplanet and strategy and Dot Bitcoin ETFwhich has recorded their inflow for the seventh consecutive week.
The company said in a telegram note to investors on Monday:
“The market seems to have rediscovered the foundation, especially after BTC is at a critical psychological threshold above the key psychological threshold beyond the initial shock.”
The Binance BTC/USDT clearing heat map shows that the largest liquidity cluster ever was around $112,000.
in the case of $112,000 level is brokenit could trigger a liquidation squeeze, forcing short sellers to close positions and push prices to $114,000, the next major liquidity cluster.
On the downside, bid orders are building around $100,000, with the next major cluster between $92,000 and $93,000.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
