4E: Bitcoin is experiencing high-level fluctuations as risk aversion and signals of a hawkish Federal Reserve suppress the market.

On June 19, news reported that as of June 19, 2025, 14:00 (UTC+8), Bitcoin is priced at $105,124, with limited fluctuation in the past 48 hours, maintaining between $103,000 and $108,000. The market continues to observe the developments in the Middle East situation. Bloomberg cites sources saying that the U.S. may be preparing to intervene in the conflict between Israel and Iran, triggering a rise in risk aversion, putting slight pressure on encryption assets. At the same time, the Federal Reserve maintained its interest rates in its latest policy statement and lowered its expectations for interest rate cuts in 2026. Chairman Powell emphasized that he will adhere to a “data-driven” approach and remains cautious about short-term easing expectations, which the market generally interprets as a hawkish stance. As a result, risk assets came under pressure, gold prices rose, and the encryption market adjusted accordingly. Ethereum is reported at $2,525, down about 0.5% in the last 48 hours; Cardano and Solana both fell over 2.5%, while meme coins like Dogecoin and $TRUMP also declined. Overall market risk appetite has decreased, and trading volume has shrunk. In terms of policy, Trump posted in support of the stablecoin regulatory bill GENIUS and urged the House of Representatives to pass it as soon as possible. Although the related news boosted the stock prices of crypto concepts like Circle, the overall market sentiment remains conservative. 4E reminds that the current crypto market is at the intersection of macro uncertainty and regulatory transition, and the short-term trend is still dominated by policy and geopolitical risks. Investors should pay attention to risks and respond cautiously to market fluctuations.