Bitcoin starts the new week with bullish momentum ahead of the upcoming Federal Reserve meeting, which may significantly impact market sentiment.
Federal Reserve's Market Influence
All eyes are on the US Federal Reserve's June 18 FOMC meeting, which could likely send crypto markets into a volatile phase. The Fed is expected to keep interest rates unchanged, continuing its pause on cuts throughout 2025, although inflation pressures complicate its stance. "Powell's language at the FOMC press conference will be keenly watched," noted one strategist.
Bitcoin Trading Range
According to YouTuber Rananjay Singh, Bitcoin has been trading within a narrow 10% range throughout June, a pattern often seen before significant price swings. The largest cryptocurrency closed last week above $104,500, which provides some optimism for bulls. "In the last 4 years, every month showed more significant moves," Singh remarked, stating that "a big move is coming, up or down."
Heightened Inflation Concerns
Missile exchanges between Israel and Iran have driven up oil prices, raising fears of inflation spillovers. According to Trading Economics, WTI crude oil futures traded near $73 per barrel. Analysts indicated that "commodities have the highest beta to rising inflation," pointing to oil derivatives that are heavily weighted in indices.
As important Federal Reserve meetings approach and market volatility rises, Bitcoin remains a focal point for traders. Changes in inflation expectations and regulatory decisions may drastically influence the future price landscape.
