Bitcoin Holds Steady at $64K Amid Hawkish Fed Signals
- Bitcoin traded near $64,100, down about 1% on the day but up roughly 2% over the past week.
- The Federal Reserve’s new Chair Kevin Warsh signaled a hawkish stance, lifting year-end rate projections and reviving July hike bets.
- U.S. spot Bitcoin ETFs have seen outflows of nearly $4.6 billion since May.
- Institutional investors are buying the dip, with on-chain accumulation near $60,000 and miner breakeven costs between $30,000 and $50,000.
- Traders see a roughly 30% chance of a rate hike at the Fed’s July meeting.
Bitcoin steadied near $64,100 as traders weighed hawkish signals from the Federal Reserve’s new chair against market dynamics suggesting potential support levels around $60,000. Institutional interest is noted amid ETF outflows and macroeconomic uncertainties.
The cryptocurrency remains resilient despite recent volatility driven by policy expectations and geopolitical tensions. Institutional buying suggests confidence in Bitcoin’s long-term value proposition despite short-term market fluctuations.(Source)
