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Bitcoin News: Why Is Bitcoin Price Down Today? Rate Cut Doubts and Resistance Near $108K Pressure BTC





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Key Takeaways:

Bitcoin is down ~2.1% in the past 24 hours, trading around $106,958 on Binance following resistance at $108K.

Fed rate cut expectations for June 18 are off the table, undermining bullish sentiment.

If Bitcoin loses the $106K support level, it could slide toward $100K.

Bitcoin Drops Below Key Resistance on Rate Cut Doubts

Bitcoin (BTC) has fallen approximately 2.1% over the last 24 hours, now trading at around $106,958 on Binance. The decline follows a failed breakout above $108,000, compounded by Federal Reserve signaling that it will not cut rates at its June 18 meeting.