Bitcoin Gains As The Federal Reserve Leaves The Door Open To A July Rate Cut
Bitcoin (BTC) maintained a price of $105,000 as of June 24, following a 4.4% gain. A tentative ceasefire in the Middle East contributed to a rally in crypto and risk assets, while oil prices fell. Analysts indicated that the "buy the dip" level for Bitcoin is now $103,000, with signs of a bull market recovery evident. BTC experienced a trend switch after a liquidation crash below $100K, breaking through $103K to reach the next resistance level. Spot Bitcoin ETFs showed modest net inflows, indicating investor confidence despite geopolitical tensions. The US Federal Reserve signaled potential interest rate cuts sooner than expected, with Vice Chair Michelle Bowman expressing support for a July rate cut if inflation data remains favorable. Markets anticipate the first rate cut in September 2025.
