Bitcoin · Federal Reserve (FED) · Kevin Warsh · Bitcoin Magazine
Bitcoin Price Falls to $62,000 as Hawkish Fed Shift Raises Risk of Deeper Pullback
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Bitcoin price fell to around $62,000 after a hawkish Federal Reserve outlook dampened risk appetite.
Key facts
- On the daily chart, Bitcoin price remains below key resistance levels, including the 61.8% Fibonacci retracement near $65,000 and a broader trend resistance near $68,400
- Significant clusters of liquidation interest sit above price near $65,000 to $67,000, while downside liquidity concentrates around $63,500 and $62,000
- The bitcoin price fell from a June 17 high of $66,315 to an intraday low near $62,000 during early June 18 trading, marking a 4% decline
- Bitcoin price slipped below key support near $64,000 after a hawkish shift from the Federal Reserve erased gains tied to easing geopolitical tensions, placing the market at risk of a deeper pullback
Summary
Bitcoin price slipped below key support near $64,000 after a hawkish shift from the Federal Reserve erased gains tied to easing geopolitical tensions, placing the market at risk of a deeper pullback toward the $60,000 range. The bitcoin price fell from a June 17 high of $66,315 to an intraday low near $62,000 during early June 18 trading, marking a 4% decline. The Federal Reserve held its benchmark rate steady at 3.50% to 3.75% but signaled a tighter policy path through updated projections. The reaction triggered a broad risk-off move.