Bitcoin touched a week-to-date low of $64,500 on Wednesday, sliding another leg lower as traders braced for the Federal Reserve's June policy announcement. The largest cryptocurrency by market cap was changing hands around $65,000 at press time, under pressure from macro uncertainty and lingering worries about future supply from corporate holder Strategy.
FOMC hangover
The sell-off comes just hours before the Federal Open Market Committee is set to release its interest-rate decision and updated economic projections. Markets have been jittery all week, with risk assets broadly lower as investors bet on a hawkish hold or a surprise hike. Bitcoin's drop to $64,500 marked its lowest point since last Friday, erasing gains from a brief midweek bounce.
Strategy's shadow
Compounding the macro headwinds, analysts have warned that Strategy — the business intelligence firm formerly known as MicroStrategy — could add to selling pressure if it offloads more of its massive bitcoin stash. The company has been a cornerstone of corporate bitcoin adoption, holding tens of billions in BTC. But recent signals of potential liquidation have spooked traders who remember how large overhangs can amplify downturns. The timing isn't great: with liquidity thinning ahead of the Fed, even modest selling could push prices through the next support level.
What traders are watching
For now, $64,000 is the key level to hold. A break below that could open a run toward $62,000, where options open interest clusters. On the upside, Bitcoin would need to reclaim $66,500 to shake off the bearish momentum — a move that likely requires a dovish surprise from the Fed or a clear sign that Strategy isn't selling. The next few hours will set the tone for the rest of the week.
