Analyst: Bitcoin Shows Resilience After Fed's Hawkish Stance, But Market Demand Has Not Yet Returned

On June 22nd, multiple market analysts noted that despite Federal Reserve Chair Kevin Warsh’s hawkish stance and persistent macroeconomic uncertainty weighing on the crypto space, Bitcoin has shown more resilience than expected lately. Still, there’s no clear sign of a demand recovery taking hold in the market. Current data puts Bitcoin’s price hovering around $64,700, down roughly 13% over the past month and nearly 50% from its all-time high hit last October. Analysts believe selling pressure is nearing exhaustion, but buying interest has yet to return—leaving the market stuck in a phase of range-bound trading and deleveraging. Institutional fund inflows into Bitcoin remain weak. Analysts point out that U.S. Bitcoin spot ETFs have seen approximately $4 billion in outflows over the past month, indicating institutional investors are still trimming their positions. Meanwhile, the derivatives market is in deleveraging mode, and Bitcoin hasn’t broken below a key support area, signaling funds are absorbing the current volatility. Key catalysts the market is watching include a U.S. vote on the Clarity Act, easing inflationary pressures following the Iran ceasefire, and $10.9 billion in Bitcoin options expiring this Friday. Some forecasts suggest traders are leaning bearish right now, with a 70% probability that Bitcoin could drop to $55,000.