Svmuu News Bitcoin On Tuesday, the price fell further toward the $62,000 level, continuing its weak consolidation amid outflows from spot ETFs for the sixth consecutive week, hawkish shifts in macro interest rate expectations, and pressure from quarter-end options expiries. Ethereum Having broken below $1,700 on the same day, both BTC and ETH have retreated by nearly 20% over the past 30 days.
Market pressure this week stemmed primarily from two factors. First, while the Federal Reserve (Federal Reserve) kept interest rates at 3.50% to 3.75% at the June 18 FOMC meeting, the statement notably toned down its dovish rhetoric, and the dot plot shifted from previously signaling rate cuts to suggesting rate hikes.Nine of the 18 officials now expect at least one rate hike this year, and the probability of a rate hike in December has risen significantly compared to a month ago.
Second, geopolitical risks have once again unsettled the market. Earlier expectations of a U.S.-Iran ceasefire had pushed Bitcoin above $67,000, but the situation collapsed during the signing ceremony on June 19, with Iran withdrawing from the negotiations. Since the crypto market operates 24/7, Bitcoin was the first to reflect this shock.
In addition, Deribit is set to see approximately $10.6 billion in options expire on June 26, which has further intensified the wait-and-see sentiment in the market as the quarter draws to a close.Analysts believe that leverage has been significantly reduced and market positions are currently defensive, but the next direction will still depend on Thursday’s PCE inflation data and whether spot ETF capital flows can return to positive territory.