$BTC

The current price of Bitcoin is fluctuating between $105,000 and $106,000.

It experienced a rejection at the higher end of this range, quickly returning to $105,000.

This cautious price action and difficulty in breaking higher are a result of ongoing geopolitical developments, specifically the anticipation of details regarding the U.S. vs. China tariffs.

More importantly, the price is awaiting the outcome of the upcoming FED meeting.

It's not expected that the FED will cut interest rates at this time. The central bank is likely waiting to observe the impact of the new tariffs, which are most probable to be implemented in the second half of the year.

A decision to ease rates is anticipated in September, although a July possibility remains open, albeit with little optimism for that timeframe.

Everything hinges on the inflation situation and future economic developments.

It's expected that the independent FED will once again resist pressure from the U.S. administration.

Overall, the BTC market is in a sensitive phase, where macroeconomic and geopolitical factors can significantly impact its future development. If the situation in the Middle East stabilizes and the Fed signals a more relaxed monetary policy, BTC could once again aim for 110,000 USD.