Bitcoin (BTC) failed to regain new support on Thursday as oil reached its highest levels in nearly four years.
Key points:
- Bitcoin is struggling to make up ground recently as geopolitical factors impact momentum.
- UK Brent crude spot markets are at their highest levels since June 2022.
- The Federal Reserve’s interest rate decision has been called the “tightest in years” by Chairman Jerome Powell.
Bitcoin declines at ‘tighter’ Fed meeting
Data from TradingView showed that the BTC/USD pair is hovering around $76,000, down about 2% from the previous day’s high.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
A combination of high oil prices and the US Federal Reserve’s “tightest” meeting in years kept optimism about risk assets low.
Both are a result of the ongoing war between the United States and Iran, which shows no sign of resolution.
“Iran can’t behave well. They don’t know how to sign a non-nuclear deal. They better act smart soon!” US President Donald Trump wrote in one of his latest posts on… Social truth.
Source: Social Truth
Amid the tensions, the spot price of Brent crude surpassed $120 per barrel for the first time since June 2022.
“Asia is facing its worst crisis in history, and Europe has only a few weeks of jet fuel left. As a result, the US is exporting record amounts of oil,” trade source The Kobeissi Letter responded in a message. Share on X.
“Inflation is back.”
Brent crude oil spot chart for one month. Source: Cointelegraph/TradingView
Inflation concerns were among the guiding factors for Fed officials at the Federal Open Market Committee meeting on Wednesday, where they left interest rates unchanged.
While the markets I expected that resultCommentators pointed to the deteriorating outlook for risk appetite due to the Fed’s policy change.
Nick Bockrin, CEO and co-founder of cryptocurrency education platform Coin Bureau, described The FOMC meeting — the last with Jerome Powell as chairman — was hailed as “the most hawkish in years.”
He noted that “for the first time since 1992, 4 members of the Federal Reserve opposed the decision.”
Two-year US Treasury yield versus federal funds rate futures. Source: Nick Bockrin/X
Bokrin noted that the Fed’s “soft landing” inflation policy has also ended.
“The prices have been maintained for the third meeting in a row, but the direction of travel has just changed,” he summed up.
Source: Social Truth
Trump Repeated attacks on Powell after the decision, calling it “too late” to cut interest rates ahead of a potential takeover by Kevin Warsh.
like Cointelegraph reportedTrump said he would be “disappointed” if Warsh did not cut interest rates at the first Federal Open Market Committee meeting in June.
BTC price 21-day trend line hangs in the balance
BTC price action still managed to respect the 21-day simple moving average (SMA) near $75,500 overnight.
Related to: First 21-Week Trendline Retracement Since October 2025: Five Things to Know in Bitcoin This Week
This support line has been the main question for trading resources material indicators on lower time frames.
“Will the support hold?” He – she inquire In X’s post along with order book liquidity data for Binance.
The data showed that whale order classes were broadly buying the dip, while smaller order classes reduced exposure.
BTC/USDT (Binance) order book data with whale orders. Source: Physical Indicators/X
