Bitcoin gained strength at $103,000 with hopes of a ceasefire and interest rate cuts.

The temporary ceasefire established in the Middle East and the signals of a rate cut from the U.S. Federal Reserve (Fed) have caused Bitcoin (BTC) to turn the $103,000 level back into a "accumulation zone."

With the establishment of temporary geopolitical stability, BTC has refreshed investor confidence by maintaining the gains it made at the beginning of the week. Especially during Wall Street's opening hours, the BTC/USD pair held at the $105,000 level, preserving most of the 4.4% rise recorded the previous day.

A New Bull Signal for Investors

A temporary ceasefire has been established between Israel and Iran in the Middle East, which has sparked a rally in risky assets, and Bitcoin has also gained from this momentum. Crypto analyst Daan Crypto Trades summarized this process in a post on X.

"After a major liquidity hunt and deviation, we are seeing a strong recovery from the range levels. BTC is now right in the middle of the last six weeks' range."

Cryptocurrency investor and analyst Michaël van de Poppe described this move as a "turning into an upward trend."

"The deep drop below $100,000 led to severe liquidations. However, BTC is now rising again and has broken the resistance at $103,000. This level is now a classic 'buy zone after a drop.'"

On-Chain Data: Security is Maintained

On-chain data for Bitcoin continues to remain strong despite the geopolitical turmoil of recent weeks. Inflows into spot Bitcoin ETFs continue to follow a stable trend.

According to Glassnode analysts:

"Although ETF inflows remain low, no large-scale outflows have been observed either. This situation is an important sign of investors' confidence in the market."

Messages from the Fed also support BTC.

Another supporter of the positive sentiment around BTC prices was the statements from Fed officials. Fed Board Member Michelle Bowman stated in a speech in Prague on June 23 that she is open to a rate cut at the FOMC meeting in July.

"If upcoming data shows that inflation is on a downward trend and pressures are concentrated only on commodity prices, I would support lowering the policy rate at the July meeting."

Bowman also noted that the impact of the U.S.'s new tariffs on the economy could be softer than anticipated. This stance from the Fed further strengthened market expectations for a rate cut.

CME Group’s FedWatch Tool data shows that markets expect the first rate cut in September.

Powell Faces Pressure from Trump in Congress

Fed Chair Jerome Powell will testify in Congress on June 24–25. These sessions will take place under the shadow of President Donald Trump’s pressures regarding rate cuts. According to Cointelegraph, Powell's statements will be closely monitored in terms of both interest rate policy and cryptocurrency markets.

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