đ Thursday, April 4th, 2024
đOver the past 24 hours, Bitcoin fluctuated within a range of $65,000 to $66,900.
đYesterday, stock markets saw growth. The S&P 500 index ended the day with a slight gain at 5211 points. The dollar index dipped a bit but remained sturdy above 104, and the yield on 10-year bonds reached 4.36% - a notably high figure.
đĄA decline in the business activity index to a three-month low served as a catalyst for the surge, signaling good news for the market. A broader perspective on why the stock market stands where it does involves the unavoidable Federal Reserve rate cut in 2024, given the situation with the U.S. national debt and various other internal debts.
đIt seems likely that interest rates will end up significantly lower than what's currently anticipated.
đşđ¸đźToday, the U.S. is set to release trade balance and labor market data, potentially stirring market volatility with any surprises.
đ¸An increasing number of individuals are recognizing the toxicity of fiat in the present economic landscape.
đđBitcoin's position remains unchanged from its drop earlier in the week, establishing a local low at $64,500, with a support zone between $66,000 and $64,000. This forecast is holding up for now.
đŽThe unpredictability of market sentiment underscores that nothing is guaranteed. A sudden surge of FUD could potentially break through not just the $64,000 mark but also dip below $62,000 to $60,000.
The current audience quality is considered subpar, with a frightened crowd of "investors" capable of dramatic market moves.
In a noteworthy development, Peter Schiff, a staunch advocate for gold over Bitcoin, has paradoxically opened sales for gold and silver bars in exchange for Bitcoin through his SchiffGold company. A pragmatic yet ironic move.
đToday's key focus remains on a trading range with lower boundaries set at $62,000 to $60,000 and upper boundaries at $68,000 to $68,500. An alternative scenario could see a consolidation above $68,500.
