The Federal Reserve's decision to keep interest rates stable draws criticism from analysts. The price of Bitcoin falls, but #ETFvsBTC they see capital inflows.
In line with the CME FedWatch tool's 0.6% forecast probability, the US Federal Reserve announced on June 12 that it would keep the benchmark interest rate unchanged.
After a two-day Federal Open Market Committee (#FOMC ) meeting, members decided to keep the rate between 5.25% and 5.50% for the seventh consecutive time. Notably, this decision was in line with Wall Street's expectations. Commenting on this with a touch of criticism, Anthony Pompliano recently stated: "It is arrogant for the central bank to think they can set interest rates... the market is the real rate setter."
Following the announcement, the cryptocurrency market experienced a significant downturn. As of June 14, #Bitcoin had fallen to $66,000, its lowest price in two weeks.
Only one rate cut is expected by the end of #2024 
FOMC members have revised their projections for the number of rate cuts planned this year. Initially, in March, the FOMC forecast three rate cuts by the end of 2024. Now, they have reduced this expectation to a single rate cut.
The revised forecast indicates that the FOMC now predicts only a 0.25 percentage point rate cut before the end of this year. This announcement surprised some analysts who had anticipated more aggressive rate cuts. Some analysts believe the Federal Reserve may need to reconsider and potentially adjust this forecast in the coming months if economic conditions change.
In the midst of all this, $BTC is experiencing a decline in the number of new addresses, according to Glassnode analysis.
Bitcoin remains resilient
Despite Bitcoin's recent price drop, not all metrics point to a negative outlook. According to Santiment data analysis, there has been a notable increase in the Social Dominance metric.
Furthermore, the Relative Strength Index (RSI) has not yet indicated any clear signs of buying or selling pressure. Additionally, the Bitcoin spot exchange-traded fund (ETF) saw an inflow of $100.8 million, marking a turnaround after two consecutive days of outflows. Pompliano put it right when he said: “Bitcoin is the only asset I know of that intrinsically has the potential to surpass #inflation .”