The post Bitcoin Trades Near $102K Support as FOMC Triggers Selling appeared on BitcoinEthereumNews.com.

Key takeaways: Bitcoin dropped $103,500 as traders cut risk ahead of tomorrow’s FOMC decision. Technical data points to a Bitcoin price bounce between $102,000 and $104,000. Onchain data shows mid-term holders realizing significant profits over the past month. Bitcoin (BTC) price slipped to $103,300 after traders started cutting risk ahead of the upcoming Federal Open Market Committee (FOMC) meet and the following interest rate decision which will be made public on Wednesday. The correction follows a bearish weekly candle close, suggesting a trend reversal, while geopolitical tensions — particularly the Israel-Iran conflict — add to the risk-off sentiment. According to Bitcoin Vector, a Swissblock-backed market pulse aggregator, the decline is not just macro-driven. It aligns with seasonal weakness and falling onchain network growth, pointing to a cool down in spot demand. Over $434 million in BTC futures were liquidated in the past day, emphasizing that the current move is largely leverage-driven, with traders opting for caution rather than fresh exposure. Despite this, the Bitcoin Coinbase Premium Index — a metric comparing BTC prices on Coinbase and Binance, has remained positive for most of June, signaling steady spot demand from US investors. However, this demand has had a limited impact on price due to broader market caution. Bitcoin Coinbase Premium Index. Source: CryptoQuant Further pressure came from profit-taking activity among “mid-cycle holders” (six–12 months), who realized $904 million in profits on Monday, according to Glassnode. This cohort accounted for 83% of the total realized gains, a notable shift from the longer-term or more than 12-month holders, who had previously led profit realization. The shift suggests a rotation in market dynamics, with more reactive participants securing gains during recent highs. Still, long-term investor behavior presents an optimistic outlook. Bitcoin researcher Axel Adler Jr. noted that long-term holders (LTHs) are still refraining from…

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Filed under: News - @ June 18, 2025 8:27 am