July 15, 2024 Grandpa checks in
Trump, who was nearly assassinated, reappeared and continued to attend the Republican National Convention in Milwaukee. This wave of popularity was full. According to Bitcoin Magazine CEO, Trump will go to Nashville to attend the 2024 Bitcoin Conference as planned. If he does attend in the end, it will undoubtedly be a huge boon for Bitcoin. In fact, this wave of Bitcoin was able to quickly recover 60,000 from below 54,000, and Trump deserves credit, although his previously promised crypto-friendly policies have not been realized at all.
In addition, the report released by Matrixport stated that the Bitcoin ETF had a weekly inflow of $310 million last Friday, which was the highest net inflow in the past month. It is worth noting that the buying is shifting from institutions to retail investors, which is a good thing for the stability of Bitcoin, because retail investors' stop losses are not sensitive enough and often ignore the plunge. In addition, the net inflow of ETFs offset the sales of Bitcoin last week to a certain extent, indicating that the staged market will tend to rise.
Yesterday, Bitcoin just broke through 60,000, and today it rose 5 points to 63,000. After a simple second bottoming out, the market has shown a V-shaped momentum. Judging from the current price, bottom-fishing has won a great victory. The next step is to consider how to take profit. At present, it will be considered to take profit in the area of 64-65. Ethereum is around 3,500. This point is a sideways point of decline and also an important pressure in the future. If there is no special positive news in the future, the strength of the market rebound will gradually weaken.
The biggest positive factor at the moment is probably the US election. Trump's chances of being elected after the assassination have greatly increased to more than 70%, which means he is basically the next president. We can pay close attention to Trump's subsequent public remarks on cryptocurrencies. In theory, he no longer needs to make promises specifically to win votes, so if he points to crypto-friendliness, then he will most likely implement it later, which is the biggest positive factor.
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