The primary cryptocurrency has staged a clear rebound from its multi-year low below $60,000 and is currently hovering around $65,000.
However, a number of analysts believe the cycle bottom has yet to be reached, projecting a plunge under $50,000.
Red Days Ahead?
Later today (June 17), the Federal Reserve will announce its decision regarding the interest rates in the United States. Given elevated inflation, it would be surprising if the central bank lowered the benchmark, as most expect the current 3.5%-3.75% range to remain unchanged.
Some analysts, though, have identified a consistent pattern in Bitcoin’s (BTC) reaction whenever the Fed releases its interest rate decision. The popular X user Ash Crypto told their over two million followers that the asset’s price has headed south after each FOMC meeting since July 2025. The biggest slump occurred in January this year when BTC lost more than 33% of its valuation. We have yet to see whether today’s disclosure will finally break the negative streak (at least for the bulls).
Other market observers who also made pessimistic predictions include X users bee and Crypto Lens. The former claimed that BTC is “on the verge of the final flush,” expecting a drop to $51,000-$52,000.
“After that, I expect a rebound to the 55k zone and a few weeks of sideways movement, with the potential for a break below 50k,” they added.
For their part, Crypto Lens envisioned a bearish rejection toward roughly $48,000 in the coming days, followed by a crash to $43,000 by August this year.
The Bullish Case
Despite pessimism from some analysts, certain indicators suggest BTC may be gearing up for a rally. The amount of coins stored on crypto exchanges, for example, recently dropped to a six-year low of around 2.56 million. This means that many investors continue to abandon centralized platforms in favor of self-custody solutions, thereby reducing selling pressure.
The whales’ actions are the next positive factor. Ali Martinez revealed that this cohort of investors has purchased more than 30,000 BTC (worth more than $1.9 billion) over the past seven days and now controls 4.27 million coins.
Such developments signal that whales are positioning for the next upward move, with some believing they might be acting on inside information that retail investors don’t have. In any case, their buying spree is closely monitored by smaller players who could mimic the move and distribute fresh capital into the ecosystem.
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