Bitcoin Price Falls Below $65,000 Ahead of Key Fed Interest Rate Decision

Bitcoin (BTC) fell below $65,000 on Wednesday as traders predicted the impact of a key macro event. Key points: Bitcoin approaches the next Fed interest-rate decision near important support. BTC price analysis warns that "bearish" moves typically accompany FOMC days. $55,000 remains on the table as a target next. BTC price analysis: FOMC could "set the tone" for June Data from TradingView showed intraday lows of $64,782 on Bitstamp. BTC/USD one-hour chart. Source: Cointelegraph/TradingView The US Federal Reserve was due to decide on changes to interest rates at 2 p.m. Eastern time — a move that formed the week’s main volatility catalyst. The meeting of the Federal Open Market Committee (FOMC) would be the first under new Fed chair, Kevin Warsh, making his remarks at the subsequent press conference just as important as the overall outcome. As Cointelegraph reported, Warsh had been under pressure to cut rates despite the inflationary impact of the US-Iran war. “FOMC could set the tone for the rest of the month,” trader Killa wrote in an X post on the topic. Killa noted that BTC price action tended to weaken around Fed decisions. “Right now, BTC is forming a bullish narrative into the event, but as I always say, the outcome is usually priced in before the news is released,” they continued. “If recent history is any indication, we have generated far more bearish reactions than bullish ones.” BTC/USD chart with FOMC meetings marked. Source: Killa/X On Tuesday, Bitcoin already experienced a loss of momentum, even as stocks headed higher on Iran relief. Analysis had already warned that price would likely stall above $67,000 as demand remained subdued. “We need to maintain bullish market structure from here... (64K). If not, there's a strong chance we revisit the $60K lows after this pivot,” Killa warned. Bitcoin trader preserves $55,000 target Other perspectives included a “short-term bounce” for Bitcoin before the resumption of the bear market. Related: Bitcoin miner 'capitulation' comes as trader sees later 2026 bear-market bottom “FOMC meeting is happening today, exactly when the US-Iran peace deal is very close,” Niels, co-founder of marketing agency STABL, told X followers. “IMO, Bitcoin could show some strength but eventually it's going to $55,000.” BTC/USDT one-day chart. Source: Niels/X A more optimistic take came from analytics account Cryptic Trades, which saw the rebound continuing after the FOMC. BTC/USD, it said, had rejected at two key moving averages that together form Bitcoin’s daily bull market support band. BTC/USD one-day chart with bull market support band. Source: Cointelegraph/TradingView “However, after this pullback, the next big leg up is coming,” Cryptic Trades predicted. BTC/USD one-day chart. Source: Cryptic Trades/X