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Bitcoin Consolidates around $64K as Markets Digest Fed's Hawkish Shift

Bitcoin (BTC) remains under selling pressure on Thursday, trading below the $64,000 mark after the Federal Reserve adopted a firmer policy stance at its latest meeting. Although interest rates were left unchanged at 3.50%-3.75%, the Fed's updated projections and comments from Chair Kevin Warsh reduced expectations for future rate cuts and reinforced a higher-for-longer interest rate environment.

The central bank's revised outlook showed policymakers now expect rates to finish the year at 3.8%, a notable increase from the 3.4% forecast released earlier this year. The announcement strengthened the US Dollar and pushed bond yields higher, creating headwinds for risk assets, including cryptocurrencies.

At the same time, institutional participation remains mixed. Spot Bitcoin ETFs posted an $82.16 million net outflow on Wednesday, following alternating sessions of inflows and outflows earlier in the week. The lack of consistent capital entering the market suggests that large investors remain cautious despite Bitcoin's recovery from recent lows.

While BTC managed to rebound from the $58,000 region, the move has so far lacked strong follow-through buying. The recovery appears to be driven more by reduced selling pressure than by aggressive demand, leaving the market vulnerable to renewed weakness if macro conditions deteriorate further.

BTCUSDT 4H Technical Analysis

From a technical perspective, Bitcoin continues to trade inside a rising channel on the 4-hour chart, indicating that the broader recovery trend remains intact. However, the recent rejection near $66,000 has slowed bullish momentum and pushed price back toward an important support zone.

The $62,415 area is now acting as the key battleground between buyers and sellers. A successful defense of this level would preserve the series of higher lows and maintain the possibility of another rally toward the $66,060 resistance zone.

If buyers regain control and push above $66,060, Bitcoin could build momentum for a move toward $70,046. Such a breakout would likely attract fresh buying interest and improve overall market sentiment.

On the downside, failure to hold above $62,415 would weaken the current structure and expose BTC to a deeper correction toward $60,000 and potentially $58,351. Momentum indicators are already showing signs of fading strength, suggesting that traders should remain alert to further downside volatility.

Key Levels to Watch

📍 Resistance: $66,060 → $70,046

📍 Support: $62,415 → $58,351

Market Outlook

Bitcoin remains trapped between strengthening macroeconomic headwinds and a still-intact technical recovery structure. The market is waiting for a catalyst strong enough to break the current stalemate. As long as BTC holds above $62,415, bulls maintain a slight advantage. However, a sustained move above $66,000 or below $62,400 will likely determine the next major trend direction.

$BTC ‌