Bitcoin in July: 50,000 or 80,000? Wall Street's answer is revealed!!!

Will Bitcoin in July fall to a low of $50,000, or will it break through the peak of $80,000?

Wall Street may have already figured out this question that worries countless investors!

From the perspective of macroeconomic data, the data released earlier this week were weaker than expected, which should have strengthened the Fed's expectations of a rate cut in September.

However, Friday's PMI data showed that overall business activity remained resilient, instantly extinguishing the "hope" of a rate cut in September.

Currently, the price of Bitcoin is still hovering around $65,000, which is exactly the middle value of the price during the past three months of consolidation.

As far as the current situation is concerned, Bitcoin seems to have stabilized near this price range, but there are also two negative factors that cannot be ignored.

First, this week, ETFs saw a net outflow of up to $545 million, and this outflow trend has continued for 8 trading days, fully demonstrating investors' strong risk aversion.

Second, the highly watched Mt. Gox incident, this 10-year Mt. Gox "plot" is coming to an end. The current payment deadline is set for October 31, 2024, when billions of dollars worth of Bitcoin may flow into the market to form selling pressure.

So, will Bitcoin fall below $60,000 in July and pull back to $50,000, or will it usher in a reversal breakthrough and run all the way to $80,000? Personally, I think there is a high probability that there will be signs of bottoming out and rebounding.

The current pullback is actually preparing for the next breakthrough to accumulate strength.

Wall Street analysts have also expressed their views that although Bitcoin bulls seem to be exhausted, they have performed well in defending key support.

The market is anxiously waiting for Bitcoin to break through the key level of $66,000. Once it succeeds in gaining a foothold, the upward momentum will be unstoppable, and the moment of reversal will come.

In this Bitcoin price game, investors need to keep their eyes open, keep up with market trends, and make decisions carefully.

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