Bitcoin Falls Below $65,000: FOMC Meeting Looms, Strategy Structural Concerns and Leverage Risks Converge

Odaily Planet Daily News Bitcoin continues to face pressure amid macroeconomic uncertainty and institutional investor caution, with its price hovering near $64,500, down approximately 2% intraday. The market is awaiting the outcome of the first Federal Reserve FOMC meeting chaired by Kevin Warsh, with broad expectations that interest rates will remain unchanged in the 3.50%–3.75% range.

Analysts point out that the focus of this meeting has shifted from "whether to cut rates" to "policy path and inflation signals." Current U.S. inflation is still considered to be at near three-year highs, and changes in energy prices and geopolitical tensions are keeping the market cautious about the future policy direction.

Pressures are simultaneously emerging at both the on-chain and institutional levels. Structural concerns surrounding Strategy (formerly MicroStrategy) continue to intensify. Its preferred stock, STRC, fell to $91.79 on June 16, over 8% below its $100 par value, which is seen as a sign of weakening corporate Bitcoin buying momentum.

Although spot Bitcoin ETFs recorded net inflows of approximately $10.1 million on June 16, with BlackRock's IBIT contributing the bulk, the capital scale is still significantly lower than in previous periods, indicating limited buying momentum.

Market research firms Bitfinex and QCP point out that Bitcoin's recent rebound is more of a "technical recovery driven by exhausted selling pressure" rather than being fueled by new demand. In the derivatives market, rising implied volatility in options and a skew towards put protection suggest that traders are pricing in tail risks.

In terms of price structure, Bitcoin is expected to oscillate within the $60,000 to $68,000 range in the short term. If the Fed signals a hawkish stance or institutional buying weakens further, it could retreat to the $62,000–$63,000 range.

Overall, the current market exhibits a combined structure of "macro waiting + marginal institutional weakness + enhanced derivative defense." The short-term direction still depends on FOMC policy signals and the potential return of capital from ETFs and corporate sources. (The Block)