Bitcoin dips under $65,000 as traders eye Fed decision

Bitcoin slipped below $65,000 on Wednesday ahead of the Federal Open Market Committee decision, with intraday lows of $64,782 on Bitstamp as market participants positioned for the rate announcement set for 2 p.m. Eastern.

The meeting is the first policy session with Kevin Warsh as Fed chair; his remarks at the post-meeting press conference were expected to influence risk appetite across crypto and broader markets.

Trader Killa wrote on X that Bitcoin often weakens around Fed meetings and that outcomes tend to be priced in before announcements. Killa warned that preserving bullish market structure around $64,000 was necessary to avoid a deeper correction, and cautioned that failure to hold that level could increase the chance of revisiting the $60,000 area.

Market data showed momentum cooled after Bitcoin failed to sustain gains above $67,000 earlier in the week, even as equities rose on easing geopolitical tensions.

Niels, cofounder of marketing agency STABL, wrote that Bitcoin could see a short-term bounce but expects a drop toward $55,000. Analytics account Cryptic Trades described the current pullback as temporary, pointing to a rejection at two moving averages that form a daily bull-market support band and predicting a subsequent leg higher.

Traders and analysts said they would monitor technical support near $64,000 and Fed commentary for signals on liquidity and future rate expectations. Market participants noted that a break below $64,000 would leave lower targets, including $60,000 and $55,000, back on the table.