Bitcoin stares down a major macro volatility week with BTC price holding 17-month highs.
Bitcoin holds higher BTC price levels into what looks to be a crunch week for crypto markets across the board.As macroeconomic uncertainty continues to grow, Bitcoin is cementing its new trading zone above $30,000.
Under the hood, Bitcoin is looking better than ever, and the numbers prove it — network fundamentals are either at or circling all-time highs, continuing a trend in place for much of this year. In one of his latest X updates, he used the Ichimoku cloud to argue that a breakout toward $40,000 was on the cards.last week, $40,000 is a popular target for bulls, but some remain notably surprised by the strength of the recent rally.“The doubt and disbelief is still lingering,” he continued in part of X commentary, suggesting that many retained a bear market mentality.
Bitcoin has nonetheless dismissed Fed rate decisions in recent months, this despite persistent inflation repeatedly beating market expectations.Kobeissi touched on what could become a fresh BTC price headwind — a correction on the S&P 500. Previously correlated with stocks, Bitcoin’s more recentIn commentary last week, however, research firm Santiment not only confirmed the waning stocks correlation but also said that this in itself was a sign that the crypto bull market was back.Now at 62.
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