Bitcoin trader warns of 'bearish reaction' to FOMC with $64K now essential
Summary
Bitcoin slipped below $65,000 as traders waited for the Federal Reserve’s FOMC rate decision, seen as the main catalyst for June volatility. BTC hit an intraday low near $64,782 on Bitstamp. Traders said the Fed meeting could “set the tone” for the month, with market moves often front-running the announcement and then reacting bearishly afterward. Some warned BTC had already lost momentum and could retest $60,000 if it failed to hold the $64,000 area. A more bearish view projected only a short-term bounce before a decline toward $55,000. A more bullish view said Bitcoin had rejected key moving averages in its daily bull market support band but could resume its next major leg higher after the pullback.
