BTC Price Zones in Focus Ahead of Fed Chair Remarks

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Bitcoin price remains stuck below $110,000 ahead of the FOMC, with big overhead resistance at $112,000 in place and several key support levels below.

Fed rate interest cut odds this week are now less than 0.1%.

BTC price may drop as low as $92,000 if key support levels are broken.

Bitcoin’s price failed another attempt at breaking above the resistance at $110,000 on June 17, as tensions in the Middle East escalated. Since June 5, BTC price has been unable to break above $112,000.

With the Federal Open Market Committee (FOMC) meeting set to take place June 17-18, markets could see volatile price swings toward key BTC price levels over the next few days. The policy decision on the interest rate will be made on June 18 at 2.00 pm ET.

99.9% chance interest rates won’t change
There is a 99.9% chance that the current interest rates will remain between 4.25% and 4.50%, leaving just a 0.1% probability of a 0.25% rate cut, according to CME’s FedWatch tool.


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