The bitcoin course after trying to return to growth, he is still disappointing. Much will depend on politics and macroeconomic data.
The bitcoin course is not growing
The Bitcoin course began to grow, but we are currently observing declines again. The price was already at USD 110,000, but dropped to around USD 108,660.
According to experts, a period of relative boredom is ahead of us. Ryan Lee, the main analyst at Bitget, told us that “this week we expect Bitcoin to stay in the range of USD 105–115,000, and ETH 4,000–4,5,200 USD”. Prices will be “shaped by a combination of ETF flows, expectations regarding macroeconomic policy and changing investors’ behavior.”
A recent outflow of USD 523.3 million from ETF funds associated with Bitcoin temporarily weakened the BTC exchange rate, but the data from the block chain indicate a decrease in stock reserves, which suggests less sales pressure and reflection potential. At the same time, balancing wallets by BTC to ETH whales drives Ethereum dynamics, supported by the growing interest in its ecosystem and the prospect of new ETFs
– we read in a note sent by Bitget.
Macroeconomics
Lee also pays attention to macroeconomic data:
The macroeconomic background also plays a key role – waiting for the September reduction of interest rates by the federal reserve strengthens the risk of risk, creating favorable conditions for digital assets. In combination with the resistance of the Altcoin market, these factors point to short -term variability, but generally suggest optimistic perspectives for the coming weeks. Institutional inflow of capital remain a key engine of growth, and while conducive to liquidity environment and product innovations, the cryptocurrency market seems well set for further growth.
And in fact, the valuation of the Fed Watch Tool shows that the chances of cutting percentage rates. By Fed in September they amount to 89.6%.
In the background we still observe the voltage on the Donald Trump-Fed line. Recently, the US president wrote on social truth that inflation is already zero in the USA. Of course, this is arguing with official data.
Prices in the USA are “much lower”, practically without inflation. (…) gasoline is the lowest for many years. All this despite the huge duties that bring billions of dollars from countries that have used us for decades and make America strong and respected again!
Trump said.
