Analyst: BTC may retest $60K if it fails to hold $64K ahead of FOMC

The U.S. Federal Reserve's upcoming interest rate decision could be a watershed moment for the market in June, according to crypto analyst Killa, Cointelegraph reported. The analyst suggested that if Bitcoin fails to maintain its $64,000 support level, it is highly likely to retest the $60,000 low. Killa added that while there has been recent bullish sentiment building ahead of the FOMC meeting, the market has historically reacted more often with a decline than a rally around the event. Defending the $64,000 support level is essential to maintain the current bullish structure, he noted. Meanwhile, Niels, co-founder of STABL, predicted that BTC could see a short-term rebound due to the FOMC and progress in U.S.-Iran peace negotiations. However, he suggested the downtrend could resume afterward, potentially leading to a correction to $55,000.