Jeff Ko, chief analyst at CoinEx, predicts Bitcoin will maintain a stable trading range, attributing this calm to three main factors.
Firstly, a decline in oil prices from last week's highs, following a reduction in tensions between the United States and Iran, is contributing to market stability. Additionally, the 10-year Treasury yield, approaching 4.7%, is reinforcing the Federal Reserve's tightening stance. The Fed is also expected to remain flexible as it awaits the upcoming PCE inflation report and second-quarter GDP data.
This week’s corporate earnings announcements from major firms like Apple, Microsoft, Meta, and Amazon are also pivotal. Ko notes that their free cash flow and guidance on AI investments could affect Treasury yields and the Nasdaq index, which in turn may impact liquidity in the cryptocurrency market.
