Current Market Conditions and Challenges!
However, the favorable macroeconomic environment is challenging for the crypto market. Currently, Bitcoin is trading at $59,271, thus facing challenges to remain above the $60,000 mark price. Likewise, Ether (ETH), the second largest cryptocurrency by market capitalization, ranges between $2,800 and $3,000.
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These price levels have been turned into crucial levels that signal the changes in the market by the traders and investors. Other factors that make the market more challenging include the political structure of the United States of America.
QCP Capital highlighted that the crypto market reacted to a recent conversation between Tesla CEO Elon Musk and the ex-U. S. President Donald Trump was held without mentions of cryptocurrencies. This absence and Trumpâs continued backing of the digital asset industry, including his promise to replace Gensler with Marcy if he returns to the White House, has given traders something to ponder in the near term.
Looking ahead, QCP Capital sees a possibility of a rebound in the cryptocurrency market by the end of the year. According to the firm, traders should pay particular attention to macroeconomic analysis predictions and political occurrences expected to affect the market in the following months.#ETHđ„đ„đ„đ„ #BTCâ #BlackRockETHOptions #BinanceTurns7 #MtGoxJulyRepayments $BTC $ETH $SOL
Please note that our any coin price prediction does not constitute investment advice â always do your own research before getting any coin or token.
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