Bitcoin (BTC) price holds steady, with one analyst seeing the upside emerging: Crypto Daybook Americas
Bitcoin stabilized above $70,000 despite recent selloffs and global tensions, with one analyst predicting a potential upside.Summary
Bitcoin (BTC) has stabilized above $70,000, demonstrating relative strength despite a recent selloff from over $75,000 and broader market downturns caused by escalating conflict in Iran and a hotter-than-expected U.S. PPI print. Traditional havens like gold and silver also fell while crude oil surged due to supply disruptions. The Federal Reserve's hawkish tone further dampened rate-cut expectations. Bitwise’s André Dragosch believes Bitcoin sits at a crossroads, with rising inflation expectations and economic activity potentially favoring the token, while tighter financial conditions pose a headwind. He suggests Bitcoin may have already priced in much of the tightening. Key catalysts for future movement include improving financial conditions and continued crypto adoption. Market data shows BTC is up slightly, while ETH is down, and significant ETF flows have been observed.
(Source：CoinDesk)