BTC is trading around $63,800–$64,200 ahead of Wednesday's Federal Reserve decision, with CME FedWatch showing a 98.3% probability of rates holding at 3.50%–3.75%. The market focus has shifted to Chair Powell's post-decision press conference and any shift in the dot-plot projections, as BTC's tighter correlation with risk assets means monetary policy signals now function as near-term price catalysts.
why it mattersThe FOMC decision and Powell's tone will likely set the directional frame for BTC through the end of June.
crypto.news
Geoffrey Kendrick, Standard Chartered's global digital assets head, called the Bitcoin bear phase over after BTC's dip below $60K, framing the selloff as a 'perfect storm' of ETF outflows, Strategy's bitcoin sale, and oil-driven macro pressure rather than structural deterioration. The bank's $100K year-end target — cut from $300K in February and revised down again in April — remains unchanged.
CryptoBriefing
Polychain-backed Botanix — a tokenless EVM layer-2 built on Bitcoin that launched mainnet in 2025 — announced it is shutting down after failing to generate sustainable fee revenue. At announcement, TVL stood at just $119,500. The post-mortem cited that most users treated Botanix as a quiet yield-earning vault rather than a high-frequency transaction layer, making fee income insufficient to cover operating costs. Users must withdraw all assets by July 9.
why it mattersA data point against the Bitcoin DeFi thesis: unless L2 activity shifts from yield farming to genuine high-frequency use, fee revenue cannot sustain these networks.
CoinDesk