BITCOIN STRUGGLES TO REACH 80k
we have seen the upward bounce of bitcoin, having a 24hr low of 74,821.57 to a 24hr high of 79, 472.82. This implies a clean positive 6.22% increase.
But, does this mean bulls are in control?
Yes, this is a bullish wave, since the US-IRAN ceasefire, most crypto assets are gaining their values back and above.”US-listed spot ETF recorded a mild inflow of $11.84 million on Tuesday amid uncertainty over US-Iran peace talks” - Mitrade
Also, The US Treasury is projected to buy back $15 billion of its own debt this week, a move that could inject additional liquidity into markets.
Barchart reported on X Tuesday that the US Treasury is expected to repurchase $15 billion of its own debt this week, tying the largest buyback on record. This action may add fresh liquidity to the markets, a factor that typically supports Bitcoin. Since BTC is heavily influenced by liquidity conditions, increased capital often moves toward riskier assets and alternative value stores, potentially driving its price higher.
IF BITCOIN holds above 79,000 expect a major breakout otherwise it will remain stagnant
