$USDC

Critical moment: Analysts expect Bitcoin to enter a new phase of volatility

According to data from TradingView, the BTC/USD pair is currently moving within a narrow trading range and has yet to establish the $105,000 mark as a solid support level.

This sideways movement is the result of multiple converging factors, including escalating geopolitical tensions, a monetary policy still in a state of 'wait and see' from the U.S. Federal Reserve (Fed), along with the U.S. stock market pausing trading due to the Juneteenth holiday.

Regarding the move from the Fed – the agency that just decided to keep interest rates unchanged at Wednesday's meeting – trading firm QCP Capital notes that officials are still showing a high level of caution.