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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the sensitivity of digital assets to macroeconomic data, market risk appetite saw a notable decline. According to reports, Bitcoin fell nearly 3% toward the $63,000 level following the release of stronger-than-expected U.S. labor market data. This robust jobs report reinforced the Federal Reserve's hawkish outlook and significantly reduced expectations for short-term interest rate cuts.
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Sign InThis selling pressure coincides with mixed performance across global markets, as the Michigan Consumer Sentiment index released on June 12, 2026, improved to 48.9, exceeding previous forecasts. Per market data, the dollar's strength resulting from U.S. economic resilience continues to exert downward pressure on cryptocurrencies, a trend mirrored in altcoin markets following Bitcoin's lead.
Traders are currently monitoring key support levels around $60,000, with Bitcoin trading near $63,000 (at close June 18, 2026). Looking at the upcoming calendar, markets are awaiting U.S. retail sales and industrial production data, which will be pivotal in determining the dollar's trajectory and the subsequent direction for digital assets in the medium term.
Update: Selling pressure intensified following a Federal Reserve decision that dampened market hopes for imminent rate cuts, prompting prediction market traders to adopt a more bearish stance. According to reports, the likelihood of Bitcoin and Ethereum hitting higher price targets in the near term has discounted as investors price in the Fed's hawkish messaging.
Update: Bitcoin continued its decline, breaking below $63,000 to hit the $62,000 level, amid analyst warnings of a potentially deeper market pullback. This additional pressure follows a more hawkish shift from the Federal Reserve, heightening investor concerns regarding the sustainability of current support levels.
Update: On-chain valuation and profitability metrics suggest that Bitcoin remains in bearish territory despite efforts to establish a price floor near $60,000. According to reports, these underlying data points reflect weak buying momentum, reinforcing the outlook for continued downward pressure in the near term.