The Bitcoin price remains under the influence of this week’s FOMC meeting, where the Federal Reserve kept rates unchanged while maintaining a cautious stance on inflation and future policy easing. The decision initially triggered volatility across risk assets, with BTC briefly pushing higher before giving back gains as traders digested the Fed’s projections and Powell’s remarks.
Despite the post-FOMC volatility, Bitcoin continues to hold above a key structural support zone near 64K. The inability of sellers to force a deeper breakdown suggests that the market is treating the recent weakness as a retracement rather than a trend reversal.
With macro uncertainty temporarily out of the way, traders are now shifting focus back to market structure, liquidity positioning, and derivatives flows to determine whether BTC can reclaim higher value areas and continue its advance toward overhead liquidity targets.
Liquidity Remains Positioned Above Current Price
Bitcoin’s recent plunge to the $60,000 demand zone was immediately met by the buying interest that prevented the price from testing lower targets. With this, the capital rotated back into the token, which pushed the token slightly higher. However, the liquidity profile remains skewed to the upside as large clusters remain concentrated above the current range, specifically around $68,000. Hence, this price range could be decisive, as a breakout may trigger a strong price action.
The volume profile tells a similar story. Bitcoin is currently trading just below a major acceptance area near 67K-68K, where a large amount of trading activity previously took place. A successful reclaim of this region would signal that buyers are regaining control and could open the door for a move toward higher liquidity levels. This suggests that the sellers managed to push the price into demand but failed to generate follow-through. Until BTC price sustains above the $60,000 to $61,000 support range, the capital may rotate back into the token.
Open Interest Suggests Positioning Has Reset
Bitcoin’s recent correction was accompanied by a sharp decline in open interest, with total OI falling from the May highs as the price moved from the 80K region toward 60K. The open interest contracted alongside price rather than expanding, which points to long liquidation and position unwinding rather than aggressive short buildup.
Current open interest remains below recent highs despite the recovery from the lows, indicating the market is operating with less leverage than during the previous rally. From a positioning perspective, this reduces the risk of a crowded long trade while leaving room for fresh participation if BTC reclaims higher value areas. At present, the data favors a market that has already undergone a meaningful leverage reset and is attempting to rebuild positioning from a cleaner base.
Final Thoughts
The Bitcoin price remains at a key turning point following the post-FOMC volatility. Despite the recent pullback, the broader structure remains intact, liquidity remains above the current price, and open interest has reset from its previous extremes. A successful reclaim would place the focus on higher liquidity targets near 68K and 70K, while failure to hold current support could force another test of the 60K-61K demand zone.
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