Bitcoin: Preparing For Next Week

Institutional Crypto Research Written by Experts

Author

Markus Thielen
July 06, 2024

👇1-12) Our initial downside target of $55,000 has been reached. A countertrend rally is likely as Bitcoin appears oversold in the short term, and a potential macroeconomic tailwind is expected next week. Additionally, the SEC might approve the Ethereum ETF, which could trigger positive momentum in the short term. However, we do not believe this marks a significant buying opportunity in the medium term.

Bitcoin and US CPI (inflation) data releases

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