Bitcoin remains stable and could focus on macroeconomic factors

The Bitcoin tested the $ 31,000 mark again on Monday evening, but in the end had to hand over the daily win almost completely. After the turbulent start of the week, he takes it a little quieter on Tuesday and climbs a moderate 0.7 percent to around $ 30,400 on a 24-hour perspective. The current sideways trend continues. About three weeks ago, the Bitcoin recaptured the $ 30,000 brand and has not fallen below it since then. On the way up, the lid is on the latest at the latest at $ 31,460. There, the course had marked the highest level in the previous week for around a year. Then he had to ...

11. Juli 2023

Krypto News Österreich

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The Bitcoin tested the $ 31,000 mark again on Monday evening, but had to hand over the daily win almost completely. After the turbulent start of the week, he takes it a little quieter on Tuesday and climbs a moderate 0.7 percent to around $ 30,400 on a 24-hour perspective. The current sideways trend continues.

The Bitcoin recaptured the $ 30,000 brand about three weeks ago and has not fallen below it since then. On the way up, the lid is on the latest at the latest at $ 31,460. There the course had marked the highest level in the previous week.

Then he had to make part of the profits again. The sideways range between $ 29,600 and $ 31,500 that has been valid since the end of June is still intact - and also comparatively narrow for the otherwise volatile cryptocurrency.

In the past, dynamic outbreaks in the chart often followed on such sideways phases with relatively low volatility. However, the bulls currently have something to struggle to maintain the positive mood of the past few weeks.

The application applications for various spot-defs on the Bitcoin would certainly have delivered a lot of momentum, said Brent Xu, CEO of the Defi platform Umee, to Barron’s. "But that now seems to be a bit of a bit." On the grounds, he refers to the lengthy decision-making processes of the US stock exchange supervision SEC, which has known to have rejected all Bitcoin spot ETFs so far.

In the case of Blackrock's product, which has made a significant contribution to the recent recovery of the bitcoin, the final decision, according to Bloomberg information, could, for example, only fall in mid-March 2024.

macro data again in focus

XU therefore expects that macroeconomic factors such as the data on the development of US inflation in June and the further procedure of the US Federal Reserve Fed will soon influence the course development on the cryptoma market.

In view of the unclear perspective,

retailers refer to considerable return risks if interest rates are raised again around July and September. XU therefore also expects a significant increase in volatility.

The shareholder shares the assessment that the fluctuations in Bitcoin should increase in the short and medium term. In the long run, however, the potential is far from being exhausted, because with the chance of the first spot ETFs and the "halving" in the coming year there are two potential catalysts for a new rally.

brave investors position themselves for this scenario, but still keep some powder dry for any reset. Anyone who is already invested in the long term remains.