Bitcoin Traders Eye Fed Policy Ahead of Meeting
- Fed Rate Expectations: CME FedWatch data indicates a 98.2% probability that the Federal Reserve will keep interest rates unchanged at the June 16-17 meeting, leading to a weakening in Bitcoin and the broader crypto market as traders reduce risk exposure ahead of the policy decision.
- Focus on Economic Projections: Investors are closely monitoring Fed Chair Kevin Warsh's economic forecasts and the dot plot for clues on future rate movements, with only a 1.8% chance of a rate cut, highlighting the emphasis on policy signals rather than the decision itself.
- Economic Data Impact: A Reuters survey shows that 72 out of 102 economists expect the federal funds rate to remain within the current 3.50% to 3.75% range through the end of 2026, reflecting a strong consensus against further rate cuts due to stronger-than-expected economic data and ongoing inflation concerns.
- Market Reactions: While traders overwhelmingly expect no change in borrowing costs next week, the accompanying forecasts and tone from the Fed could significantly impact financial markets, especially with inflation expectations around 4.2%, keeping investors attentive to how the Fed assesses price pressures.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 42852.355 | 50991.632 | 57997.105 | 66136.382 | 73141.855 | 81281.132 | 88286.605 |
| Fibonacci | 50991.632 | 56776.927 | 60351.088 | 66136.382 | 71921.677 | 75495.838 | 81281.132 |
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