Will Bitcoin be worth $50,000 or $80,000 in July? Wall Street has the answer!

Will Bitcoin fall to a low of $50,000 or break through a peak of $80,000 in July?

Wall Street may have already figured out this question that worries countless investors!

From the perspective of macroeconomic data, the data released earlier this week were weaker than expected, which should have strengthened the Fed's expectations of a rate cut in September.

However, Friday's PMI data showed that overall business activity remained resilient, instantly extinguishing the "hope" of a rate cut in September.

Currently, the price of Bitcoin is still hovering around $65,000, which happens to be the middle of the price during the past three months of consolidation.

As far as the current situation is concerned, Bitcoin seems to have stabilized near this price range, but there are also two negative factors that cannot be ignored.

First, this week, ETFs saw a net outflow of up to $545 million, and this outflow trend has continued for 8 trading days, fully demonstrating investors' strong risk aversion.

Second, the highly watched Mentougou incident, this 10-year Mt.Gox "plot" is coming to an end. The current payment deadline is set for October 31, 2024, when billions of dollars worth of Bitcoin may flow into the market to form selling pressure.

So, will Bitcoin fall below $60,000 in July and pull back to $50,000, or will it usher in a reversal breakthrough and run all the way to $80,000? Personally, I think there is a high probability that there will be signs of bottoming out and rebounding.

The current pullback is actually preparing for the next breakthrough to accumulate strength.

Wall Street analysts have also expressed their views that although Bitcoin's bulls seem to be exhausted, they have performed well in defending key support!