Bitcoin Holds Support on Fed Rate-Cut Hopes and Geopolitical Easing
Bitcoin has held firm in the $102,700–$103,300 range amid easing Middle East tensions and renewed speculation of a Federal Reserve rate cut as early as July. Price dipped below $103,400 before recovering, reflecting broader macroeconomic uncertainty. Santiment data shows retail sentiment hitting lows, with the bullish-to-bearish comment ratio near 1.03:1. On-chain metrics reveal futures open interest on Binance declining as derivative traders deleverage, while whale wallets continue to accumulate Bitcoin. Markets are also watching Fed Governor Christopher Waller’s remarks and Fed Chair Jerome Powell’s upcoming testimony for clear rate signals. Meanwhile, the US Dollar Index reached a three-week high against the yen after the Bank of Japan held policy steady and hinted at future tightening, and the Bank of England paused rate changes amid internal splits. Bitunix analysts warn of heightened volatility around Powell’s hearing and evolving geopolitical dynamics. Crypto traders should closely monitor central bank decisions, on-chain flows, and sentiment shifts before adjusting positions.
Bullish
The combined news highlights Bitcoin’s firm support around $102K–$103K, driven by easing geopolitical tensions and Fed rate-cut speculation. On-chain data shows derivative traders deleveraging and whales accumulating, suggesting institutional positioning for a rebound. Though retail sentiment remains weak and volatility risks loom around Powell’s testimony, the accumulation behavior and macro catalysts point to potential upside. In the short term, traders should monitor central bank signals and on-chain flows, while long-term outlook improves as institutions buy the dip, indicating a bullish bias.