June Rate Cut Hopes Diminish as Bitcoin Drops Below $95,000 in Early Trading

Table of Contents

Intense Battle Between Bulls and Bears

According to a report by Cointelegraph, the price of Bitcoin has fallen from its 10-week high, approaching the opening price in early May. Analysis indicates that there are a large number of long positions between $95,700 and $96,000, while the $96,500 to $97,000 range is seeing a concentration of short positions, creating a strong price “magnetic effect” that could lead to larger fluctuations.

Trader TheKingfisher stated on the social platform X:
“The current price range has become a battleground for bulls and bears, and it is expected to experience significant volatility.”

On the other hand, data from CoinGlass also shows that Bitcoin prices are colliding with buying liquidity, with most sell orders concentrated around $97,200. With the recent occurrence of “liquidity grabs” in the market, observers believe that this situation may continue as the $100,000 psychological barrier approaches.
However, technical analyst Michaël van de Poppe pointed out that even if Bitcoin falls in the short term, as long as it can hold the support at $91,500 to $92,000, it can maintain the recent upward trend.
“If the $91,500-$92,000 range can hold, this will confirm that the market is ready to continue towards new all-time highs.”

Market Focuses on Federal Reserve Interest Rate Decision

Expectations for volatility in the new week remain high, especially as the Federal Reserve is set to announce its latest interest rate decision on May 7. According to data from FedWatch, the market currently does not expect a rate cut in May, and last week’s job data exceeding expectations has led to a reversal of the previously anticipated rate cut in June, with the market now widely expecting that it may have to wait until July for a possible rate cut.


In addition to the interest rate issue, the outlook for the US economy has cast a shadow over the market. Recent economic data shows a slowdown in growth, and President Trump’s continued pressure for a rate cut from the Federal Reserve has further heightened market tensions. Van de Poppe added:
“Historical experience shows that cryptocurrencies and altcoins often experience corrections in the week before a Federal Reserve meeting. I expect this correction to end around Tuesday, after which the market will resume its upward trend.”