Key Points:
Bitcoin maintains the gains brought by the ceasefire in the Middle East, with $103,000 becoming the new "buying dip" focus area.
Despite geopolitical uncertainties, institutional inflows into Bitcoin remain stable.
Federal Reserve official Michelle Bowman stated that she would be open to a rate cut in July if the data supports it.
Bitcoin held at the $105,000 level when Wall Street opened on June 24 (Tuesday), with bullish factors for Bitcoin prices suddenly increasing.
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD retained most of the previous day's 4.4% gains.
The conflict in the Middle East has eased in the form of a temporary ceasefire, driving a rebound in cryptocurrencies and risk assets, while oil prices continue to decline.
For Bitcoin traders, signs of a bull market recovery are evident everywhere.
WWIII happened and now it's over too. Yet, $BTC+stable dominance didn't break above the multi-cycle resistance level. This is a clear sign that the top is in, and the shakeouts are just to make you panic sell. Alts reversal is coming, and you need to be prepared for it. pic.twitter.com/IyivUtz5Hz
"After a significant accumulation and deviation, a strong rebound from the range low," trader Daan Crypto Trades stated in his latest analysis published on the X platform. "It is now back to the middle of the range from about the past 6 weeks."
Cryptocurrency trader, analyst, and entrepreneur Michaël van de Poppe stated that the BTC price trend is undergoing a "trend reversal."
"It is now on an upward trend after we experienced a massive liquidation crash below $100,000. It broke through $103,000 and reached the next resistance level," he explained to his followers on the X platform. "Now is the time to buy the dip; if we return to $103,000, that is the area you should accumulate."
Even during the peak of the U.S.-Iran conflict, institutional investment trends remained stable, with spot Bitcoin exchange-traded funds (ETFs) continuing to see net inflows.
On-chain analysis platform Glassnode commented on ETF activity, stating, "While the inflow amount is moderate, there has not been a large-scale outflow, which is an important signal of investor confidence."
In a more favorable signal, the U.S. Federal Reserve indicated its readiness to lower interest rates earlier than the market expects.
On June 23, during a speech in Prague, Czech Republic, Vice Chair Michelle Bowman hinted that she would support a rate cut at the July Federal Open Market Committee (FOMC) meeting.
Bowman also noted that the economic impact of U.S. trade tariffs may not be as severe as previously feared.
"If upcoming data shows that inflation continues to develop favorably, with upward pressure limited to commodity prices, or if we observe that weak consumer spending is spreading to signs of weakening labor market conditions, these developments should be addressed in our policy discussions and reflected in our decision-making process," she emphasized. "If inflationary pressures remain controlled, I would support lowering the policy rate as early as the next meeting to bring it closer to neutral levels and maintain a healthy labor market."
The latest data from the CME Group's FedWatch tool shows that the market expects the first of two rate cuts in 2025 to occur at the September FOMC meeting.
According to Cointelegraph, Federal Reserve Chairman Powell himself is facing pressure from President Trump to cut rates, as he is set to testify before Congress in Washington on June 24-25.
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