Bitcoin fluctuates in narrow band as Fed's rate pause keeps markets on edge

Business Standard

19-06-2025

Bitcoin price today, Thursday, June 19, 2025: The flagship cryptocurrency Bitcoin (BTC) is trading in a narrow range between $103,600 and $105,500 after US Federal Reserve Chairman Jerome Powell announced to keep the interest rates unchanged at 4.25 per cent–4.50 per cent, with a hawkish stance, citing inflation concerns. Analysts said that the markets had already priced in the US Fed's decision and expect Bitcoin to consolidate near current levels.
Bitcoin was trading at around $104,996.65, down 0.41 per cent, with a trading volume of $48.34 billion, at 11:37 AM on Thursday, June 19, 2025, according to data from CoinMarketCap. The bellwether currency has fluctuated in the range of $103,602.26 - $105,542.84 in the last 24 hours.
Bitcoin's market capitalisation was recorded at $2.08 trillion, cementing its position as the world's largest cryptocurrency by market value.
Bitcoin to consolidate at current levels
Vikram Subburaj, CEO of Giottus Crypto Platform, believes that there is a strong likelihood for Bitcoin to consolidate at current levels and undergo a short squeeze towards $109,000. "Bitcoin currently sits just below a Fair Value Gap zone, with resistance flagged at $106,179 and $108,046. The downside risk for Bitcoin this weekend remains limited after its drop earlier in the week," Subburaj said.
Meanwhile, Edul Patel, Co-founder and CEO of Mudrex, on the other hand, remains optimistic and said, "Despite short-term pressure from macroeconomic and geopolitical factors, Bitcoin remains resilient near key support levels." Notably, Bitcoin ETFs have recorded eight consecutive days of inflows totaling over $2.2 billion, reflecting strong institutional interest.
"With continued demand, Bitcoin could soon attempt the resistance at $106,500, while support holds firm around $103,000," said Patel.
It is worth noting that Bitcoin is currently trading nearly 6.27 per cent lower from its peak of $111,970.17 scaled on May 22 this year.
Ethereum and other altcoins trade lower
Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, slipped briefly below the $2,500 mark but regained it and was holding above it. Last checked, it was quoted at $2,520.77, down 0.71 per cent, with a trading volume of $19.46 billion. ETH swung in the range of $2,469.05 - $2,546.77 over the past 24 hours.
Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 7.37 per cent, Cardano (ADA) was trading lower by 2.71 per cent, Solana (SOL) was down 1.71 per cent, Binance Coin (BNB) dropped 1.24 per cent, and Ripple (XRP) was down by merely 0.05 per cent.
Meanwhile, the US dollar-linked stablecoin Tether was trading flat at $1.