Market Outlook

Natural gas remains range-bound near $2.80–$3 while crude oil tests support. Middle East tensions and the Strait of Hormuz remain key market drivers.

WTI crude oil weakens on hopes of a Middle East diplomatic breakthrough, while lower U.S. interest rates support gold as both markets await clearer direction.

Bitcoin moved back above $61,000 after remarks from Federal Reserve Chair Kevin Warsh suggested inflation risks were easing and reduced pressure for more hawkish policy. The rebound came even as tech shares fell sharply, with South Korea’s Kospi sliding nearly 8% on renewed AI chip demand concerns.

Bitcoin sank about 20% in June, slipping below $60,000 and posting its worst monthly performance since June 2022. The monthly candle now points to heavy bearish control, raising the risk of further losses.

Samson Mow says Bitcoin’s bottom is already in, arguing that the market’s old four-year halving rhythm has shifted. But several analysts still see room for further downside, citing long-term technical signals and possible weakness later this year.

The Federal Reserve is widely expected to leave benchmark rates unchanged at today’s policy meeting, the first under Chairman Kevin Warsh. Markets are watching for any shift in language that could signal a more hawkish stance on inflation and future cuts.

Standard Chartered analyst Geoffrey Kendrick says bitcoin likely formed a cycle low around $59,000 as investor flows improve and macro pressure eases. He says a break above $83,000 would be a strong confirmation that a new uptrend is underway.

XRP consolidates gains as ETF inflows hit $82M and macro fears ease. A breakout above $2 could open the door to $2.5–$3 targets.

US stock markets show signs of a pullback as S&P 500 and NASDAQ 100 test key levels. See forecasts, resistance, and support zones ahead of Fed rate cuts.