Bitcoin is at a pivotal moment leading up to the Federal Open Market Committee meeting scheduled for June 18, 2025. Given the recent volatility in the cryptocurrency market, the outcome of this meeting could significantly influence Bitcoin's next move.
Current State of Bitcoin Market
Currently, Bitcoin is trading at $105,273, down nearly 1% from previous levels. Its market cap stands at $2.1 trillion. Market participants seem skeptical, questioning whether Bitcoin will embark on a new bullish trend or face a correction.
Technical Analysis of Bitcoin Price
Bitcoin is in a significant triangular consolidation pattern developing since May 2025, with recent highs around $112,000. The technical data shows critical resistance levels, including the upper trendline of the triangle and the psychological barrier at $112,000. Support is looking at the $100,000 level and $93,082. The RSI indicator is at 53.04, indicating a neutral trend.
Conclusion
The immediate future of Bitcoin will be dictated by the Fed meeting on Wednesday. Technical indicators point to a neutral state, and a rate increase by the Fed seems unlikely. A dovish message from Fed Chair could lead to a bullish breakout, while hawkish remarks may push Bitcoin to critical support levels.
The Bitcoin market will find itself under pressure in the next 48 hours, with the outcome of the June 18, 2025 Fed meeting potentially being a decisive factor in determining its future direction.
