Will Bitcoin fall to $50,000 in July? Or will it break through $80,000? Wall Street has already had the answer!
From the macroeconomic data, the data released earlier this week were weaker than expected, which should have boosted the Fed's expectations for a rate cut in September, but Friday's PMI data showed that overall business activity was still resilient, which immediately put out the "flame" of a rate cut in September.
The current Bitcoin is still around $65,000, which is the middle price of the past three months of consolidation. At present, it is stable near this price range, but there are also two negative factors.
First, the ETF had a net outflow of $545 million this week, and it has been outflowing for 8 consecutive trading days, showing that investors' risk aversion is getting worse.
Second, the Mentougou incident, the 10-year Mt.Gox "plot" is coming to an end, and the current payment deadline is set at October 31, 2024. There may be billions of dollars worth of Bitcoin selling pressure.
Will Bitcoin fall below $60,000 in July, pull back to $50,000, or usher in a reversal breakthrough and rush to $80,000?
I think there is a high probability that there will be signs of bottoming out and the current pullback is also in preparation for the next breakthrough. Wall Street analysts also said that although Bitcoin bulls are exhausted, they have done a good job in defending key support. The market is waiting to break through the $66,000 level. Once it stands firm, the upward momentum is in sight and the reversal will come.
Originality is not easy, remember to pay attention, and slowly get rich on the road of encryption.
