Bitcoin moved within the range of 67128-69500 during the day
At the time of writing the Review, the price of the main cryptocurrency was 68490
Market capitalization 2.47 trillion, dominance index 54.53%, fear index 73
Stock markets fell again yesterday. The S&P 500 lost 0.42% to close at 5244. This despite yesterday's GDP and labor market data sending the dollar index and bond yields lower (usually a positive for stock markets).
The reason is the release of weak reports from some companies (Salesforce and a number of others), and a weak report on corporate profits. Combined with weak macroeconomic data, this indicates a weak economy and has spooked the markets.
On the other hand, markets now depend not so much on the real economy as on the actions of the Fed. Therefore, the drop was not particularly significant, and if good PCE data comes out today (0.3 or lower), everything will be fine in the markets. But in the case of PCE worse (higher) than forecast, we may see a more significant decline in stock indices.
The PCE release will be at 15-30 Moscow time.
Now futures for the S&P 500 are in a slight minus, Asian indices are growing.
Trump was found guilty of falsifying business records and making payments to a porn actress. The events in question took place even before his presidency (before 2016), but the case began to be sculpted in 2023, with the elections approaching. The verdict (fine or imprisonment) will be rendered on July 11. Then there will be an appeal, all this will drag on for quite a long time.
He continues to participate in the election campaign, this even consolidates his supporters.
According to the Polymarket service, after this trial, Trump's chances of becoming president increased by 6%
The TRUMP token is also doing well.
Bitcoin surged well above 69K yesterday and tried to move to an alternative option from yesterday’s Review (fixing above 69K). So far it has not been possible - pressure from the falling stock market prevented it, so Bitcoin returned to the priority option.
But the inflow into the BTC-ETF yesterday amounted to $48.8 million, iBIT closed with a plus of 2.19%, and, unless there is a powerful fall in the fund, there is every chance of taking 69K today.
If we leave for the weekend with Bitcoin above 69K, there are chances for good growth in altcoins already on the weekend.
And if today there is news about the start date of trading for ETH-ETF, then there is a chance that the conditions for the start of the altseason will be met.
I remind you of these conditions:
Movement of the dominance index towards 53-52%,
- Stream pinning above 4K
- Consolidating the total market capitalization above 2.5 trillion
- Consolidation of capitalization without Bitcoin - above 1.2 trillion.
The priority option for today is Bitcoin in a range with a lower limit at 67500-67000 and an upper limit at 69500-69600
Alternative - consolidation above 69600
