[Digital Today reporter Yoonseo Lee] Bitcoin slipped below $65,000 ahead of the U.S. Federal Open Market Committee (FOMC) meeting, making defense of the $64,000 level a key short-term variable.

On June 17 (local time), blockchain outlet Cointelegraph reported that market attention was focused on the FOMC because it is the first meeting since Kevin Warsh (케빈 워시) took office as Federal Reserve chair. The Fed was set to announce whether it would change rates as of 2 p.m. Eastern time. Warsh's remarks at the subsequent news conference were also cited as a factor that could increase market volatility.

Traders saw the meeting as potentially having an impact beyond a simple rate decision. Crypto trader Killa said bitcoin has often shown weakness around Fed policy announcements. Killa added that while a bullish expectation is forming ahead of the meeting, outcomes are often reflected in prices before the announcement.

Bitcoin was also losing upward momentum the previous day. Stocks rose amid relief related to Iran, but warnings had already been raised that bitcoin could stall above $67,000 because of weak demand.

The price level market participants watched most closely was $64,000. Killa warned that bitcoin must maintain a bullish structure in the current zone. Killa added that if $64,000 breaks, the FOMC could trigger a retest of lows in the $60,000 range.

Some traders raised the possibility of a short-term rebound just before the FOMC, while still expecting weakness to resume afterward. STABL co-founder Niels (닐스) also cited as a variable that the FOMC is being held as a U.S.-Iran peace agreement appears to be nearing.

Others also said a rise could resume after the FOMC. Analyst Cryptic Trades (크립틱 트레이즈) said bitcoin could continue a rebound after dipping once from a bull-market support zone on the daily chart where two key moving averages overlap. "After this correction, the next big upward leg will come," he said.

The market is reacting sensitively ahead of this FOMC not because of the rate decision itself, but because of policy signals that may follow. With the likelihood of rates being held already largely priced in, investors are paying closer attention to how Warsh interprets inflation and the possibility of an economic slowdown. If remarks on the future rate path are seen as more hawkish than expected, risk appetite across risk assets could weaken again.

From a technical perspective, bitcoin is also in an important zone before determining its short-term direction. The area around $64,000 is cited as a price level that can confirm whether buying interest comes in during the recent correction. If prices hold there, there could be a rebound attempt as uncertainty eases after the FOMC. If support fails, concerns are also growing that short-term selling pressure could intensify.

Against that backdrop, the market sees this meeting as a turning point that could determine bitcoin's short-term direction. In the near term, whether $64,000 holds is the first point to check, and if it is maintained, hopes for a rebound could revive. If the support breaks, not only could the market retest $60,000 lows, but the $55,000 target mentioned at the start of the article could also be raised again.

Important day for $BTC tomorrow. FOMC could set the tone for the rest of the month. Historically, we've seen a bearish reaction around this time 7 out of 8 times. Right now, BTC is forming a bullish narrative into the event, but as I always say, the outcome is usually priced… pic.twitter.com/JhSRYYvFWo