Analyst: Bitcoin Shows Resilience After Federal Reserve’s Hawkish Stance, but Market Demand Has Yet to Return

BlockBeats news, on June 22, multiple market analysts stated that despite the ongoing pressure from the hawkish stance of the new Federal Reserve chairman Kevin Warsh and continued macro uncertainty, Bitcoin has performed more resiliently than expected recently, but there is still no clear sign of demand returning to the market.

Data shows that Bitcoin is currently hovering around $64,700, down about 13% over the past month and nearly 50% off its all-time high set in October last year. Analysts believe that the current selling pressure is nearly exhausted, but buyers have not re-entered the market, which remains in a range-bound and deleveraging phase.

Institutional capital flows remain weak. Analysts pointed out that US spot Bitcoin ETFs have seen a cumulative outflow of about $4 billion in the past month, indicating that institutional investors are still reducing their positions. Meanwhile, the derivatives market is undergoing deleveraging; Bitcoin has not yet broken below key support areas, suggesting that capital is absorbing volatility.

Potential catalysts attracting market attention include the US Clarity Act vote, easing inflation pressures following the ceasefire in Iran, and the expiration of Bitcoin options totaling about $10.9 billion this Friday. Some prediction market traders are currently bearish, believing the probability of Bitcoin dropping to $55,000 is around 70%.