Flow

FOMC

Bitcoin

Impact

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s [BTC] losses extended to the $67K region due to investors’ concerns about the Fed decision.</li>
 <li>Despite the short-term bearish sentiment, trading firms suggest potential for a bullish trend.</li>
</ul>
<p>Bitcoin’s [BTC] losses have extended to the $67K region. This is a result of investors’ concerns regarding the impending decision from the Federal Reserve.</p>
<h2 id="impact-on-btc-etfs">Impact on BTC ETFs</h2>
<p>The bearish sentiment is also reflected in BTC ETFs. These products broke a month-long streak of inflows following a stronger US Jobs report on the 7th of June.</p>
<p>The BTC’s dip has hit a weekly low, retesting a short-term demand of $66.8K—$67.92K. The question now is whether the short-term support above $67K will hold post-FOMC or if sellers will overwhelm it.</p>
<h2 id="bitcoin-predictions-and-market-sentiment">Bitcoin Predictions and Market Sentiment</h2>
<p>Despite weakening buying pressure, capital inflows into Bitcoin were still slightly above average. This is indicated by the Chaikin Money Flow (CMF).</p>
<p>The $67K level has prevented further BTC plunge since mid-May. However, a hawkish Fed decision could tip sellers to break below the support.</p>
<p>Crypto trading firm QCP Capital suggests a bullish trend, noting an increase in bullish bets (Call options) over bearish bets (Put options) on the derivatives market.</p>
<p>The leading crypto options firm, Deribit, also supports this short-term bullish stance. However, a hawkish Fed could dent the bullish thesis and potentially lower BTC to $64K or range lows.</p>

Bitcoin Forecasted Trends: BTC Plunges to $67K Prior to FOMC Meeting

Table of Contents

CoinEagle.com

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