403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Joseph Dahrieh, Managing Director at Tickmill
(MENAFN- MENAFNEditorial) Bitcoin continued to consolidate above USD 84,000 on Friday and continued to find support from ETF inflows. Spot Bitcoin ETFs attracted USD 190 million in yest’rday’s session, extending their positive run to six days. However, inflows have slowed for three consecutive sessions, leaving the cryptocurrency exposed to downside risk if the macro backdrop deteriorates.
Markets expect further tightening from the Federal Reserve and other major central banks, keeping global bond yields elevated. As such, a sustained breakout from the current consolidation zone may be more challenging unless yields retreat or institutional allocations accelerate again.
Oil prices could determine which side gives way first. Diplomatic progress between the United States and Iran has helped contain crude prices, but the regional backdrop remains fragile. A more meaningful decline in oil would ease inflation concerns and could soften interest rate expectations, leaving more room for bitcoin to rebound.
Appreciate your cooperation in publishing the analysis.
For any inquiry or more information pleasedo not hesitate to contact us.
Regards
Markets expect further tightening from the Federal Reserve and other major central banks, keeping global bond yields elevated. As such, a sustained breakout from the current consolidation zone may be more challenging unless yields retreat or institutional allocations accelerate again.
Oil prices could determine which side gives way first. Diplomatic progress between the United States and Iran has helped contain crude prices, but the regional backdrop remains fragile. A more meaningful decline in oil would ease inflation concerns and could soften interest rate expectations, leaving more room for bitcoin to rebound.
Appreciate your cooperation in publishing the analysis.
For any inquiry or more information pleasedo not hesitate to contact us.
Regards
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment