Bitcoin remained steady above the $105,000 mark during Tuesday’s Wall Street open, as bullish momentum gained strength from multiple fronts.
Analyst: Key Support Now Around $103K
Data from TradingView indicated that BTC/USD maintained most of Monday’s 4.4% surge. Optimism spread across crypto markets and broader risk assets after signs of de-escalation in the Middle East, where a tentative ceasefire deal helped calm investor nerves. Oil prices also continued to slide, adding to the risk-on sentiment.
Traders began spotting signs of a renewed uptrend in Bitcoin.
“A sharp rebound off the lows, following a liquidity sweep and false breakdown,” Daan Crypto Trades shared on X. “We’re now back in the central range seen over the last six weeks.”
Well-known analyst and founder Michaël van de Poppe described this shift in momentum as a clear “trend reversal.”
“Bitcoin has flipped the script after dipping below $100K during a cascade of liquidations,” he noted. “Once it cleared $103K resistance, the next leg up was confirmed. A pullback to that zone would present a strong buying opportunity.”
Meanwhile, institutional interest remained firm. Even during the peak of U.S.-Iran tensions, spot Bitcoin ETFs continued to attract capital.
“While inflows were moderate, the absence of significant outflows shows growing investor confidence,” Glassnode reported.
Fed’s Bowman Opens Door to July Rate Cut
Adding more fuel to the rally, comments from the Federal Reserve hinted at a sooner-than-expected pivot toward monetary easing.
Michelle Bowman, Vice Chair for Supervision, speaking in Prague on June 23, said she may support cutting interest rates at the upcoming July FOMC meeting.
“If the data continues to show cooling inflation and signs of weaker consumer spending or job market softness, those should guide our policy decisions,” she explained. “If inflation remains under control, I’d back a rate cut to bring us closer to neutral and support the labor market.”
According to CME Group’s FedWatch Tool, markets still expect the first rate cut of 2025 to come in September, but Bowman’s comments suggest that could happen sooner.
Fed Chair Jerome Powell is set to testify in front of Congress on June 24–25, under pressure from President Trump to act swiftly on rates.
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