According to Jeff Ko, the chief analyst at CoinEx, Bitcoin is expected to remain within a stable range. He cites three key factors contributing to this calm environment.
Firstly, oil prices have decreased from last week's peaks, following a lull in tensions between the U.S. and Iran. Additionally, the 10-year Treasury yield, which is nearing 4.7%, is effectively contributing to the Federal Reserve's tightening measures. Furthermore, the Fed is likely to keep its options flexible ahead of the upcoming PCE inflation report and second-quarter GDP figures.
Corporate earnings reports are also a significant factor this week. With major companies such as Apple, Microsoft, Meta, and Amazon set to announce their results, Ko believes their free cash flow and guidance on AI expenditures could influence Treasury yields and the Nasdaq, thereby impacting the liquidity available for cryptocurrencies.
Moreover, Ko emphasized that the nature of ETF inflows will be as crucial as the overall figures.