The Bitcoin market is affected by various events. One of these events is the US Fed's interest rate decision. The market is usually very volatile on the day when this meeting is held. The market goes up and down a lot depending on this interest rate. There is a meeting of the Federal Open Market Committee scheduled for June 18. If the Fed's interest rate is reduced in that meeting, then we will see a good pump in Bitcoin. A survey has shown that the probability of reducing interest rates is 60%. If this happens, then we can see a pump in the price of Bitcoin up to twenty percent. So this time is very important for us. So we have to keep an eye on this meeting and if the interest rate comes down, it will be positive for us, especially those who have invested in various coins.

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We have seen a bearish trend in Bitcoin prices over the past few days, with the price of Bitcoin falling below $93,000. This was mainly after the US GDP data showed a contracting economy, but the price of Bitcoin has since rebounded. Bitcoin prices are currently trading above $96,000. A contracting economy would likely prompt the Fed to cut interest rates to stimulate activity. This would reduce yields on traditional assets like bonds, pushing investors into Bitcoin and riskier assets. Currently, $95,000 is the key level that traders are targeting, and many analysts believe that a sustained push through the resistance zone above this area opens the door to a rapid upward move.

Bitcoin’s current price position is where the price has recently broken above two important technical levels and is now attempting to consolidate within this area. Bitcoin has reclaimed these levels in the recent uptrend, which highlights the level of strength behind this move. If Bitcoin can hold this position, then very soon we will see Bitcoin move towards $100,000. We may even see a new all-time high being created. However, the important thing here is that at the current price of Bitcoin, if it is to move above $100,000, then Bitcoin must break these levels and hold for further price growth. Because a rejection of this level will push the price back into recession and will push many investors into meaningful unrealized losses.

Although there is no negative news in the market at the moment, Bitcoin is ready to surpass $96,000. A final break above $95,000 could break BTC out of the consolidation, the next logical step would be towards the psychological level of $100,000. However, there is some risk in this position because if the Bitcoin price drops below $93,000, we will see a downtrend in the Bitcoin price and we may see the Bitcoin price drop deeper towards the $84,000 and $88,000 range. So it remains to be seen what happens in this position.