Possibly influenced by the weakening expectations of a Federal Reserve rate cut, Bitcoin's price fell below $108,000. Before the release of the Federal Reserve's May meeting minutes, the sentiment in the risk asset market showed caution. The CME FedWatch tool indicates that the market expects the first rate cut by the Federal Reserve to be delayed until September, with the expected number of rate cuts in 2025 reduced from four to two. Trader TheKingfisher pointed out that if Bitcoin's price falls further, it could trigger more short covering. QCP Capital also previously stated that the current market lacks catalysts to drive price fluctuations, and overall volatility continues to decline. (Cointelegraph)