Bitcoin moved within the range of 54800-58236 during the day
At the time of writing the Review, the Bitcoin price was 57297
Market capitalization 2.07 trillion, dominance index 54.70%, fear index 27
Stock markets rose yesterday; The S&P 500 and Nasdaq reached new highs again. Considering that the probability of a rate cut in September has risen to 71%, this is not surprising. Considering that the almost reboundless growth of indices has been going on for several weeks, the risk of a short-term correction is growing.
The reason may be the rhetoric of Powell, who speaks today and tomorrow in Congress. Most likely, they will ask him questions about why the rate has not yet been reduced, and he will answer them. If he talks about “disinfection” - new market highs. If we talk about “fighting inflation until there is 2%” - this is the reason for correction.
Although I think that before the CPI data is released on July 11, there will be no strong movements in any direction. Chaotic volatility is possible.
- The speech by Powell and Yelen (who can also say something interesting, about the national debt or about banks) will be at 17-00 Moscow time.
- Fed speakers speak at 16-15 Moscow time and at 20-30 Moscow time.
Now the 10-year bond yield and the dollar index are rising, but at the same time the S&P 500 futures are rising, which is abnormal for the markets.
Bitcoin is moving within yesterday's forecast, and has remained above 55K for more than 12 hours. However, it cannot yet pass through the resistance area at 58000-58300.
Transfers from the German government continued yesterday, with 10,000 BTS transferred yesterday. I also thought - what idiots).
But then $163 million worth of BTC was returned to the German government wallet. Either this is part of manipulation (but somehow it’s too primitive, even for the German government). Or they are afraid to leave Bitcoin on the exchange overnight).
Let's see how much they will transfer today.
But there were no transfers from mt.GOX. This means that the amount of 3K BTS, which was driven on Friday to the exchange through which payments are made, is still enough. Which confirms what was said earlier - Bitcoin payments will be small.
Sales are even less. Since people who already had Bitcoin in 2014, and now have seen what has happened to it in 10 years, are unlikely to sell it en masse at this price. Because they think much better than a representative of the market crowd (otherwise they would not have had Bitcoin in 2014).
Among the alts, the leaders of growth over the day are BONK, TIA, SEI, PEPE.
ATOM, AVAX, DOT lag behind the market
The priority option for today is a range with a lower limit at 53000-53500 and an upper limit at 58300-58500
Alternative - consolidation above 58500
