Bitcoin price loses $64K support after Fed shock, can bulls avoid a drop to $60K?
Bitcoin has fallen back toward the $64,000 level after the Federal Reserve adopted a hawkish policy stance, erasing a relief rally that had been fueled by easing Middle East tensions and renewed hopes for lower energy prices. According to crypto.news market data, Bitcoin ($BTC) climbed to an intraday high of $66,315 on June 17 before reversing sharply following the Federal Reserves policy decision. The asset fell 4% to an intraday low of $63,683 during early June 18 trading before recovering slightly to around $64,444 at press time. Bitcoins price dip followed after the Fed kept interest rates unchanged at 3.50%–3.75% and released a hawkish dot plot that projected fewer rate cuts and left the door open to future tightening. Selling pressure intensified further after Fed Chair Kevin Warsh signaled a move away from traditional forward guidance, injecting fresh uncertainty into the policy outlook and triggering a broad risk-off reaction across global markets. Only hours earlier, traders had welcomed reports that the U.S. and Iran had formally implemented an interim peace agreement that included the reopening of the Strait of Hormuz and the removal of restrictions on Iranian oil exports. Crude oil subsequently fell toward $75 per barrel, its lowest level since early March, a