Bitcoin – ‘Break above $80K unlikely’ – CoinShares identifies missing trigger
Bitcoin is recovering, trading at $63,921, but a CoinShares report indicates the rally is driven by macroeconomic shifts, not crypto-specific developments. Recent lower-than-expected U.S. inflation data raised expectations of Federal Reserve monetary easing, reversing an eight-week outflow trend and triggering inflows into Bitcoin investment products. However, the report suggests Bitcoin has likely found a short-term bottom but is unlikely to break above $80,000 without a clear shift in Fed policy. It is expected to trade in a range, potentially between $60,000 and $120,000, until there are definitive signs of monetary easing. Investor sentiment remains cautious, with interest growing in blockchain stocks and the Crypto Fear and Greed Index indicating "extreme fear."
ambcrypto07/18 14:02
