Urgent: Key Bitcoin Price Levels to Watch Before Fed Chair Powell’s Speech

Bitcoin price action is currently constrained, holding below key resistance as markets anticipate a major economic event. Traders and investors are closely monitoring the upcoming Fed meeting and the subsequent speech by Chair Jerome Powell, which could significantly influence the market direction. Understanding the critical **Bitcoin price** levels is essential for navigating potential volatility.

The Anticipated Fed Meeting

The Federal Open Market Committee (FOMC) is scheduled to meet on June 17-18. The policy decision regarding interest rates will be announced on June 18 at 2:00 pm ET. According to the CME’s FedWatch tool, the probability of an interest rate cut this week is minimal, currently less than 0.1%. The overwhelming expectation is that rates will remain unchanged between 4.25% and 4.50%.

While the rate decision itself may be largely priced into the market, the focus is now squarely on the post-meeting press conference and the language used by Fed Chair Powell. Market participants will analyze his comments for any hints about future monetary policy direction.

What to Expect from Jerome Powell’s Speech

With the rate decision widely expected to be unchanged, the market’s attention shifts entirely to the communication from the Federal Reserve, particularly **Jerome Powell speech**. Powell is under pressure from some political figures to consider lower interest rates. Any perceived dovish tone in his language could be interpreted positively by risk assets like Bitcoin.

Market analysts suggest that a dovish stance from Powell, combined with a de-escalation of geopolitical tensions, could provide significant upward momentum for Bitcoin, potentially triggering short liquidations. Conversely, a more hawkish tone could weigh negatively on sentiment.

Critical BTC Price Levels to Monitor

For Bitcoin to resume its upward trend and enter price discovery, it must decisively break above and hold the previous all-time high around $112,000. This level acts as significant overhead resistance.

Key levels to watch on the upside:

• **$108,000:** Regaining this psychological level is a necessary first step.
• **$109,000 – $110,500:** A major supply zone that bulls must overcome.
• **$112,000:** Flipping this all-time high into support is crucial for continuation.
• **$114,000:** The next potential target if $112,000 breaks, supported by liquidation clusters.

On the downside, bears are attempting to hold resistance around $106,000. Several support levels exist below the current price:

• **$104,000:** Where the 50-day Simple Moving Average (SMA) is located.
• **$102,800:** The previous range lows from June 13.
• **$100,000:** A key psychological level with significant bid orders building up.
• **$95,800:** The 100-day SMA.
• **$94,600:** The 200-day SMA.
• **$92,000 – $93,000:** The next major cluster of bid liquidity below $100,000.

Breaking below these support levels could lead to a more significant price decline, potentially testing the $92,000-$93,000 zone.

Understanding Current Bitcoin Price Dynamics

Beyond the technical levels, several factors are influencing the current **Bitcoin price**. Geopolitical tensions, such as the escalation in the Middle East, have recently impacted market sentiment, contributing to the failure to break above $110,000.

Bitcoin futures funding rates have turned negative following the geopolitical escalation. Negative funding indicates that short position holders are paying long position holders, which increases the probability of a short squeeze if the market narrative turns positive. This dynamic suggests bears are currently overexposed.

Despite short-term price fluctuations, institutional accumulation continues to provide underlying support. Reports indicate consistent buying by entities like Metaplanet and Strategy, alongside a seventh consecutive week of inflows into spot Bitcoin ETFs. This persistent institutional demand is cited as a reason for Bitcoin’s resilience, particularly its ability to hold above the $100,000 threshold despite recent shocks.

Broader Crypto Market Analysis and Outlook

The upcoming Fed event is a major data point influencing the broader **Crypto market analysis**. While Bitcoin often leads, altcoins are also susceptible to shifts in market sentiment driven by macroeconomic factors and central bank commentary.

Prediction markets reflect the current uncertainty. Polymarket shows a 42% chance of Bitcoin dropping to $100,000 by June 30, but also a 23% possibility of reaching new all-time highs above $115,000. This highlights the potential for significant moves in either direction depending on the catalyst.

The market remains in a sensitive state, balancing institutional optimism and technical strength against macroeconomic uncertainty and geopolitical risks. The Fed meeting and Powell’s speech are poised to be the next major catalysts for price action.

Summary

As the Federal Reserve meeting approaches, the Bitcoin market is poised for potential volatility. While an interest rate change is unlikely, **Jerome Powell speech** will be closely scrutinized for clues on future policy. Traders should pay close attention to the key **BTC price levels**: $112,000 as critical resistance and $100,000-$92,000 as crucial support zones. Institutional buying provides a bullish undercurrent, but negative funding rates also suggest potential for a short squeeze. The outcome of the **Fed meeting** and the subsequent commentary will likely dictate the short-term trajectory of the **Bitcoin price** and influence the overall **Crypto market analysis**.