Crypto traders enter June 15 with U.S. data releases and a Federal Reserve decision in focus.
Summary
- Bitcoin climbed above $65,500 as U.S.-Iran deal eased oil and inflation concerns.
- Markets expect Fed to keep rates unchanged during Kevin Warsh’s first policy meeting this week.
- Retail sales, housing starts and manufacturing data could shape crypto risk appetite this shortened week.
The Kobeissi Letter listed May industrial production on Monday, housing starts on Tuesday, retail sales on Wednesday, and the Philly Fed Manufacturing Index on Thursday.
U.S. markets will close Friday for Juneteenth. That leaves traders with less time to react to new data, the Fed decision, and comments from Kevin Warsh after the meeting.
Warsh faces first rate decision
The Federal Reserve will announce rates on Wednesday. Markets widely expect policymakers to keep rates unchanged at 3.50% to 3.75%, as crypto traders watch inflation, growth, and borrowing costs.
Kevin Warsh took office as Fed chair in May, and the June meeting will give markets their first full look at his approach. MarketWatch said economists remain unsure whether he will lean toward rate cuts or take a firmer line on inflation.
Joseph Brusuelas, chief economist at RSM, told MarketWatch that “it all puts Warsh in a difficult position.” He said Warsh had backed rate cuts while seeking the role, but higher prices now make that path harder.
Iran deal lifts risk mood
Crypto markets reacted to the latest U.S.-Iran peace deal claims. President Donald Trump wrote on Truth Social that “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” He also said he had authorized the reopening of the Strait of Hormuz and the removal of the U.S. naval blockade.
The announcement eased energy pressure. Oil prices fell, while stock futures rose. Lower oil prices can reduce inflation fears, helping risk assets such as Bitcoin, ether, and major altcoins.
crypto.news reported Monday that Bitcoin climbed above $65,500 after the U.S.-Iran deal lifted markets. The report said BTC traded near its highest level in almost two weeks as traders priced in lower oil stress and a better global market mood.
Bitcoin rebound still faces tests
The recovery follows a volatile period for digital assets. crypto.news earlier reported that traders had positioned themselves for a Fed pause, with CME FedWatch data showing a probability near 98% that rates would stay unchanged at the June 16-17 meeting.
Bitcoin still faces resistance near $68,000, according to crypto.news market coverage. Ether traded near $1,700, while XRP, Solana, Cardano, and Hyperliquid also moved higher during the relief rally.
The next test will come from the Fed statement, the dot plot, and Warsh’s press conference. If the Fed signals higher rates for longer, crypto gains may slow. If inflation fears ease, traders may extend the rebound.
