Good morning,
crypto enthusiasts!
Feeling a bit lost in this current market landscape?
Wondering where Bitcoin ($BTC) is headed next? Sometimes it feels like our own mindset contributes more to the confusion than actual market trends.
Let's take a step back and look at historical patterns. July tends to be bullish for Bitcoin, often seeing gains of 30-50% or more. With the market hitting all-time highs, could we be on the brink of another significant move?
At the beginning of the year, analysts were optimistic about the second half of 2024 due to anticipated rate cuts. So why the prolonged sideways movement in the last few months? Historically, after halvings, we've seen extended consolidation periods before major upward movements. Is this time any different?
Regarding the CME gap around $58.5k-$61k, these gaps typically fill within a few days but can take longer—sometimes even months or never at all.
Considering August's reputation as a challenging month for crypto, could it be prime time for accumulating altcoins in the spot market?
Total3 has just reclaimed $627B; if this level holds, $700B could be the next milestone.
This week's GDP report is expected to bring positive news for the markets. Additionally, the upcoming election season, potentially involving Trump, could introduce new dynamics.
Jobless claims and PCE figures might not be negative for the market, offering a neutral outlook.
Stay informed and strategic in these dynamic times!
