On the eve of the Fed interest rate decision, the market follows the Bitcoin trend

The Fed will announce the June interest rate decision tomorrow morning, and the market is highly focused on officials' expectations regarding the number of rate cuts this year. Financial analysts indicate that, although two rate cuts within the year remain the mainstream expectation, some officials may prefer to cut rates only once. If the dot plot shows only one rate cut, or if the Fed chairman indicates there is no urgency for a rate cut, it may affect market sentiment. Currently, traders expect the first rate cut of the year to be implemented in September.

At the same time, the geopolitical situation in the Middle East remains tense, and global markets are increasingly worried about crude oil supply. The United States has increased its military presence in the Middle East, including aircraft carriers and destroyers. However, some analysts point out that the market's reaction to the escalation of the situation is relatively calm, possibly because investors have already anticipated the uncertainty.

In the cryptocurrency market, Bitcoin has experienced a pullback due to geopolitical risks, currently priced at around $105,000. Analysts believe that although the current price range has not confirmed a bottom, it offers a good accumulation opportunity. If it can break through $106,000, it may trigger a new round of increases. Attention should also be paid to the support levels at $103,000 and $100,000. Some analysts have pointed out to follow the key resistance levels at $109,000 and $110,000, believing that a breakthrough at these positions could lead to further upward movement.

Ethereum is currently hovering around a price of $2,548, having made multiple attempts to break through the $2,700 resistance recently without success. Analysts point out that despite on-chain data indicating that large holders are continuously accumulating, the short-term technical situation remains complex, and a breakout above $2,600 is needed to reignite bullish momentum.

In terms of market dynamics, the three major U.S. stock indices generally closed lower, and cryptocurrency-related stocks performed poorly. The U.S. Senate passed a stablecoin regulatory bill this morning, establishing a federal regulatory framework for stablecoins, but the market reaction was relatively muted. Additionally, several social media accounts related to cryptocurrency have been unfrozen. There have been multiple short-term explosive projects on-chain, some of which still maintain a high market capitalization.

Key Data

• Bitcoin: $105,461 (Year-to-date +12.71%), Daily trading volume $34.805 billion
• Ethereum: $2,535.82 (Year-to-date -24.03%), daily trading volume $22.424 billion
• Fear and Greed Index: 48 (Neutral)
• Market share: BTC 64%, ETH 9.3%
• 24-hour liquidation data: 68,397 people liquidated globally, total amount $322 million.

Today's Outlook

• A certain XRP ETF will be listed today on the Toronto Stock Exchange.
• A certain crypto project will launch the second season airdrop.
• A certain trading platform will conduct airdrops in two phases.
• Multiple projects will undergo token unlocks
• Fed Interest Rate Decision and Press Conference (June 19)

Hot News

• A certain asset management company plans to launch a Solana spot ETF.
• Multiple large holders have made significant purchases of HYPE tokens and opened leveraged long positions.
• The stablecoin regulation bill has been approved in the Senate.
• A certain project will launch its native coin, with airdrops aimed at early participants.
• Multiple crypto-related social accounts have been unfrozen.
• A blockchain developer receives $70 million in investment
• Canadian listed companies choose Litecoin as a reserve asset
• World Gold Council: 95% of central banks expect gold reserves to rise in the next 12 months.
• A certain crypto payment card has suspended all services.
• Citibank: Expected gold to fall below $3000 in the coming quarters.