Bitcoin Price Holds at $106K After Fed Hold and Iran Tensions Ease
Bitcoin price stabilized around $106,000 after the Fed’s June FOMC meeting left rates unchanged. Earlier, BTC plunged from $108,000 to $103,000 following Israel’s missile strike on Iran but rebounded to $109,000 before easing to $103,500 ahead of the Fed decision. Post-announcement, bitcoin price traded flat near $104,000 and climbed back above $106,000 amid reports Iran may limit its uranium enrichment.
On a weekly basis, BTC is slightly up. Among large-cap altcoins, WBT led gains with a 45% surge, followed by BCH (17%) and UNI (6.6%), while HYPE (-7%), ADA (-5%), SUI (-5%) and DOT (-6%) retreated. Total crypto market cap stands at $3.406 trillion, BTC dominance at 61.8%, and 24 h volume of $103 billion.
Key developments: Tron plans a US public listing via reverse merger (TRX); the GENIUS Act for stablecoin oversight passed the Senate; Ethereum staking surpassed 35 million ETH; institutional buyers drove BTC above $100,000. Traders should monitor geopolitical risk and Fed policy for short-term moves, while institutional demand underpins long-term stability.
Bullish
The combination of a Fed hold and easing Iran tensions supports a bullish outlook for bitcoin price. In the short term, stable rates and de-escalation reduce volatility and foster a supportive trading environment. Over the longer term, robust institutional demand highlighted by large-scale ETH staking and renewed BTC purchases underpins steady upward momentum. Historical precedents show that Fed rate pauses coupled with geopolitical de-risking often lead to bullish rallies in major cryptocurrencies.