INSUBCONTINENT EXCLUSIVE:
Key points:Bitcoin price fell 1.7% over the last 24 hours after running into resistance above $108,000.Chances of Fed rate cuts on June 18
Bitstamp shows Bitcoin price trading in a third straight bearish session, suggesting increasing downward momentum.BTC/USD daily chart
Source: Cointelegraph/TradingViewBitcoin drops on fading rate cut oddsBitcoin price began dropping during the New York trading hours on June
11 after US Consumer Price Index (CPI) data came in cooler than expected at 2.4% year-over-year against the forecast 2.5%
meeting, as per the FedWatch tool
The number of possible interest rate cuts in 2025 has narrowed to only two, with the earliest expected in September.Target rate
possibilities for June 18 FOMC meeting
fighting resistance from the supplier congestion zone between $108,800 and its all-time high just below $112,000
Bitcoin bulls are required to flip this level back into support to usher BTC into price discovery.The BTC/USD pair is still validating a
Source: Cointelegraph/TradingViewMeanwhile, the relative strength index (RSI) is facing down and has dropped to 56 from 64 over the last
If this happens, the BTC/USD pair could drop back into the confines of the flag channel, where it could continue consolidating for a few
below $100,000 over the next few days if the support at $106,000 gives in
Source: Michael van de PoppeThis article does not contain investment advice or recommendations
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
