Bitcoin Price Faces Key Test as FOMC Decision Puts $64K Support in Focus

Bitcoin slipped below $65,000 on June 17, falling to an intraday low of $64,500 as traders prepared for the latest Federal Open Market Committee (FOMC) interest rate decision. The meeting is attracting additional attention because it is the first under new Federal Reserve Chair Kevin Warsh.

Market participants expect the Fed announcement and Warsh’s comments afterward to play a major role in shaping risk appetite across financial markets for the rest of June.

$64,000 Support Seen as Critical Level

Bitcoin has often reacted negatively around previous FOMC events, even when market sentiment appeared positive beforehand. According to the analysts, maintaining support near $64,000 is important for preserving the current market structure. A break below that level could increase the likelihood of a move back toward the $60,000 range.

Analysts Remain Divided on Bitcoin’s Next Move

Bitcoin could see a short-term recovery as expectations grow around a possible US-Iran peace agreement. However, he maintained a longer-term target of $55,000.