Bitcoin Trades Near $64,700 After Fed Hawkish Shift, Sellers Exhausted but Buyers Absent

According to analysts, Bitcoin changed hands near $64,700 on Monday, down about 13% over the past month and roughly 50% below its October record of $126,080, per CoinGecko data.

Crypto proved "more resilient than anticipated" following Fed Chair Kevin Warsh's hawkish debut, with Bitcoin dropping 1.6% compared to the S&P 500's 1.2% decline, said CoinShares head of research James Butterfill. However, the market remains range-bound with selling pressure "nearly exhausted" but no return of demand, according to Tim Sun, senior researcher at HashKey. Analysts highlight catalysts including a U.S. Clarity Act vote targeted for July 4 and a $10.9 billion Bitcoin options expiry on Friday that could test the stalled market.