According to PANews, influenced by Powell's FOMC announcement, the market has a strong short-term bearish sentiment, with traders positioning for downside through July put options, expecting the BTC downtrend to form a bottom around $105,000.
In addition, the tensions in the Middle East are seen as a major market driver in the near term, with some traders going long on put options before the U.S. may intervene in the Iranian situation. The brief also mentioned that after Powell's term ends, Trump's influence on Federal Reserve policy is limited, and the market expects that interest rates may remain unchanged longer than expected.
