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06/17 13:35Bullish

Bitcoin holds below $65,000 as Warsh faces first

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Bitcoin holds below $65,000 as Warsh faces first FOMC test and Strategy concerns linger Bitcoin trades below $65,000 as the Fed is widely expected to hold rates steady at 3.50%-3.75% in Kevin Warsh’s first meeting as chair, with inflation reportedly sitting near a three-year high. Strategy’s STRC preferred shares closed at a fresh low of $91.79 on June 16, more than 8% below par, a signal Bitfinex says shows the corporate treasury bid behind bitcoin’s rally is weakening. Bitcoin BTC-1.70% traded below $65,000 on Wednesday as the Federal Reserve is widely expected to hold interest rates steady at 3.50% to 3.75% in Kevin Warsh's first meeting as Fed chair, with markets seeing little chance of a signal that cuts are imminent. The foremost cryptocurrency was priced around $64,550, down nearly 2% on the day per The Block’s BTC price page, as investors stayed on the sidelines awaiting clarity on the U.S.-Iran agreement and the Fed's updated economic projections, due alongside the rate decision on Wednesday afternoon. "The key takeaway from the Fed meeting is that the market is set to get stability, not a pivot," said Lacie Zhang, a research analyst at Bitget Wallet. She said the Fed has not yet validated a broader liquidity rally, even as the Iran ceasefire and lower oil prices removed one source of inflation pressure. Zhang said energy normalization may matter more than Fed policy in the near term, with WTI crude easing into the $80 to $85 range. She placed bitcoin's near-term range at $64,000 to $68,000 if oil stays contained and Fed messaging remains neutral, with a hawkish surprise from Warsh capable of sending bitcoin back to $62,000 to $63,000.
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