4E: Bitcoin Trades Sideways at High Levels as Risk Aversion and Hawkish Fed Signals Weigh on the Market

As of 14:00 (UTC+8) on June 19, Bitcoin was trading at $105,124, with limited fluctuations over the past 48 hours, remaining within the $103,000 to $108,000 range. The market continues to closely monitor developments in the Middle East. According to Bloomberg, the United States may be preparing to intervene in the conflict between Israel and Iran, which has heightened risk aversion and put slight pressure on crypto assets. Meanwhile, the Federal Reserve kept interest rates unchanged in its latest policy statement and lowered its rate cut expectations for 2026. Chairman Powell emphasized a “data-driven” approach and maintained a cautious stance on short-term easing, which the market generally interpreted as hawkish. As a result, risk assets came under pressure, gold prices rose, and the crypto market followed with a pullback. Ethereum was quoted at $2,525, down about 0.5% over 48 hours; Cardano and Solana both fell by more than 2.5%, while meme coins such as Dogecoin and $TRUMP also declined. Overall, market risk appetite has decreased and trading volumes have shrunk. On the policy front, Trump posted in support of the stablecoin regulatory bill GENIUS and urged the House of Representatives to pass it as soon as possible. Although this news boosted crypto-related stocks like Circle, overall market sentiment remains conservative. 4E reminds that the current crypto market is at the intersection of macro uncertainty and regulatory transition, with short-term trends still dominated by policy and geopolitical risks. Investors should pay attention to risks and respond cautiously to market volatility.