Affected by the weakening expectations of a rate cut by The Federal Reserve (FED), the price of Bitcoin fell below $108,000. Before the release of the minutes from the FED's May meeting, market sentiment for risk assets showed a cautious state. The CME FedWatch tool indicates that the market expects the FED's first rate cut may be delayed until September, with the expected number of rate cuts for the entire year of 2025 revised down from 4 to 2. Trader TheKingfisher pointed out that if the price of Bitcoin falls further, it may trigger more short positions to close. QCP Capital also stated that the current market lacks catalysts to drive price fluctuations, resulting in a continuous decline in overall volatility. (Cointelegraph)