Analyst: FOMC May Trigger Bearish Market, Bitcoin Needs to Hold $64,000 Support to Sustain Bullish Structure

On June 17, Bitcoin dipped below $65,000, edging closer to a critical short-term support level ahead of the Federal Reserve’s upcoming interest rate decision. The Fed will announce its rate decision at 2 a.m. Beijing time on June 18—this week’s primary catalyst for market volatility. Notably, this FOMC meeting is the first held since Kevin Warsh took over as the new Fed Chair, so his post-meeting press conference remarks are being closely watched alongside the rate decision itself. Trader Killa stated the FOMC could set the tone for the rest of June’s market moves. He pointed out BTC is currently building a bullish narrative around this event, though market outcomes are typically priced in well before official news releases. Drawing on recent history, Killa added that FOMC days usually spark more bearish reactions than bullish ones. He warned BTC needs to hold its bullish market structure around current levels (roughly $64,000); if it fails to do so, the crypto could retest its $60,000 low after this turning point. Another trader, Niels, offered a contrasting take: the FOMC meeting coincides with the near-term milestone of a U.S.-Iran peace agreement, so BTC might see some short-term strength—though he ultimately forecasts a drop to $55,000. However, analyst Cryptic Trades is more optimistic, arguing BTC could continue rebounding post-FOMC. He noted BTC has run into resistance near the daily bull market support zone formed by two key moving averages, but believes this recent pullback is setting the stage for a significant uptrend ahead.