Key Takeaways
- Resilient BTC: Despite ongoing Middle East tensions, Bitcoin maintains its position above $105.
- Market Focus: Traders await today's FOMC meeting results, which could trigger significant market movements.
Since the onset of the Israel-Iran conflict, the crypto market has leaned bearish. However, Bitcoin and other major cryptocurrencies have defied expectations by avoiding substantial losses.
Bitcoin—the leading cryptocurrency by market cap—saw a 1.4% dip over the past 24 hours but continues trading near the $105 mark. Over the last week, BTC lost only 4% of its value, showcasing remarkable stability given historical conflict-driven volatility.
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Traders Shift Attention to Today’s FOMC Meeting
While Middle East tensions dominate headlines, the Federal Open Market Committee (FOMC) meeting takes center stage today. The Fed will debate interest rate trajectories and assess impacts from tariffs and geopolitical instability on the economy.
Analysts anticipate no rate changes, but subtle signals could sway markets. Investors are keenly watching whether the Fed retains its earlier projection of two rate cuts this year—a scenario likely to propel Bitcoin prices upward.
Aditya Bhave, economist at Bank of America, noted:
"The Fed’s key message at the June meeting will be its comfortable wait-and-see stance. Focus on Powell’s views regarding weak labor data, recent mild inflation figures, and persistent tariff-driven inflation risks."
BTC Could Rally to $108 Amid Institutional Demand
Bitcoin’s resilience at $105 stems largely from **growing institutional interest**. This week alone, firms like Metaplanet and Strategy added thousands of BTC to their treasuries. Additionally, U.S. spot Bitcoin ETFs recorded $408.6 million in inflows Monday, signaling robust demand.
After retesting its critical support level of $103,430 Tuesday, BTC’s 50-day EMA held firm, setting the stage for a potential rebound toward $108.
Technical indicators reveal mixed sentiment:
- RSI: Neutral at 50, reflecting trader hesitation.
- MACD: Remains bearish but could flip if bulls maintain momentum.
A daily close above the $108,064 FVG level might pave the way for BTC to retest its all-time high near $111.
FAQs
1. Why is Bitcoin stable despite Middle East tensions?
Institutional demand and ETF inflows are counterbalancing geopolitical risks, preventing severe sell-offs.
2. How could the FOMC meeting impact BTC?
A reaffirmed rate-cut forecast may boost investor confidence, driving short-term BTC price gains.
3. What’s the key resistance level for Bitcoin?
Breaking past $108,064 could signal a bullish trend toward record highs.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice.