BTC jump sake because US-Iran peace deal, traders dey watch $64K break and Fed/FOMC
Bitcoin (BTC) spike reach one multi-week high just pass $66,000 after US and Iran announce peace deal wey dem dey expect make dem sign official on June 19. Analysts talk say the move depend on whether BTC fit maintain above key levels.
Bullish takes: Jelle dey expect relief if BTC remain above $63,000–$64,000. Ali Martinez point to break over $64,360 resistance and possible push toward $67,630 if momentum hold. Ted add say if e hold above $65,000 e fit push toward $70,000, but e warn say no enough strength yet to confirm that scenario.
Bearish cautions: other analysts dey argue say cycle bottom never reach. One view dey target final bottom near $50,000, while 4-year-cycle take dey warn of possible downside after another lower high, maybe toward $55K by Q3. Whale activity too dey raise risk: reports say big investors cut holdings by over 70,000 BTC last month, which fit signal waning conviction and set up another correction.
Traders’ key catalyst: this week Fed decision and June 17 FOMC meeting (with Chair Kevin Warsh debut). Expectation na for rates to remain 3.5%–3.75%, but any hawkish or dovish hint fit drive volatility across crypto, including BTC.
Neutral
Short-term momentum dey look bullish: BTC spike pass $66,000 and plenty analysts dey talk say e get clean break over like ~$64.4K resistance and near-term upside scenarios. But article still talk about whale distribution signals (70,000+ BTC reduce for one month) and different stories say “cycle bottom still dey ahead” (possible $50K final bottom; fit get Q3 drawdown after another lower high). That combination dey often match past post-news rallies wey fade once early buyers finish and macro events (Fed/FOMC) reprice risk. If FOMC guidance come hawkish, BTC fit retrace quick even if technical resistance don break. If guidance soft (dovish) and whales stabilize, rally fit extend, keep BTC high and delay the cycle-bottom call.