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Published: 19 June 2026,07:16
Daily Market Analysis New
*The Fed’s hawkish stance remains the primary driver of crypto markets, outweighing the positive impact of easing geopolitical tensions and lower oil prices.
*Bitcoin fell below $63,000 after investors scaled back expectations for future rate cuts and increased bets on higher-for-longer interest rates.
*Spot Bitcoin ETFs recorded significant outflows following the FOMC meeting, reflecting weaker institutional risk appetite.
Cryptocurrency markets remain under pressure despite easing geopolitical tensions. While the US-Iran agreement and the reopening of the Strait of Hormuz helped lower oil prices and boost global risk sentiment, Bitcoin failed to hold gains above $65,000 and fell back below $63,000 as investors refocused on the Federal Reserve’s hawkish outlook. This suggests monetary policy remains the key driver for crypto markets.
The recent decline was largely triggered by Fed Chair Kevin Warsh’s first FOMC meeting. Although rates were left unchanged at 3.50%-3.75%, policymakers signaled a higher-for-longer rate environment, leading markets to reduce expectations for future rate cuts. A stronger US dollar and rising Treasury yields subsequently weighed on Bitcoin, Ethereum, and other risk assets.
Institutional sentiment also softened, with spot Bitcoin ETFs recording more than $80 million in net outflows after the Fed decision. However, on-chain data remains relatively constructive. Large Bitcoin holders continue accumulating during the correction, with wallets holding over 1,000 BTC reaching their highest levels since March, suggesting long-term investors are buying the dip.
Meanwhile, market sentiment has become increasingly cautious, with prediction markets favoring further downside for both Bitcoin and Ethereum in the near term. Ethereum is also facing additional uncertainty following recent leadership changes within the Ethereum Foundation.
Despite short-term weakness, longer-term fundamentals remain supportive. Regulatory clarity is gradually improving, institutional adoption continues to expand, and interest in tokenized financial assets is growing. Overall, crypto markets remain caught between supportive structural developments and restrictive monetary policy, with Fed expectations likely to remain the primary driver of price action in the weeks ahead.
Technical Analysis
Bitcoin remains under pressure after extending its corrective decline from the recent swing high near the 67,335 resistance zone. Following a strong recovery from the June low around 59,785, BTCUSD managed to reclaim the 62,570 support area and advance toward 67,335. However, the inability to sustain gains above this key resistance level has triggered renewed selling pressure, pushing price back toward the 62,950 support region.The rejection from the 67,335 resistance zone suggests that sellers remain active at higher levels, while the recent pullback reinforces the broader consolidation structure that has developed since the sharp decline earlier this month. Although Bitcoin continues to hold above the important support area around 62,570, the sequence of lower highs formed after the recent recovery indicates that bullish momentum has weakened in the near term. As a result, the market remains vulnerable to additional downside pressure unless buyers are able to regain control and reclaim higher resistance levels.
Momentum indicators continue to reflect a cautious outlook. The Relative Strength Index (RSI) has fallen below the neutral 50 level and is currently holding near 38, signaling weakening bullish momentum and increasing selling pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory, with both signal lines trending lower and the histogram continuing to deteriorate, suggesting that downside momentum remains dominant despite the recent consolidation.
Resistance Levels: 67,335.00, 70,875.00
Support Levels: 62,570.00, 59,785.00
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