Bitcoin and Altcoins Hold Steady Amid ETF Inflows and Market Highs
Bitcoin and most altcoins stayed within a narrow range last week. This happened even as exchange-traded fund (ETF) inflows increased and major U.S. stock indices hit record highs. Bitcoin (BTC) briefly surpassed $110,000, its highest in a month, but later dropped to $108,000. The total market cap of all cryptocurrencies closed at $3.30 trillion.
Several factors could influence the crypto market this week. Here are the key points:
- Bitcoin’s price movement was limited despite positive economic indicators.
- Top U.S.indices like the Nasdaq 100 and S&P 500 reached new peaks.
- Global market capitalization of cryptocurrencies stood at $3.30 trillion.
one major event to watch is the tariff deadline. President Trump’s 90-day tariff pause ends on July 9. The U.S. has made trade deals with Vietnam, China, and the U.K.however, Canada, the EU, Japan, and South Korea might face higher tariffs again.
The tariff situation is crucial. If tariffs resume, it could negatively affect Bitcoin and altcoins. Previously, Bitcoin fell to $74,000 after a speech but recovered when the tariff pause was announced.
Traders will also focus on the Federal Reserve’s FOMC minutes. They may hint at interest rate cuts,which could boost Bitcoin and altcoins.
Traders will closely monitor the Federal Reserve’s FOMC minutes. If the Fed hints at rate cuts, it could be good for crypto.
Bitcoin’s price chart shows a bullish pattern. A breakout could lead to meaningful gains.
Stay tuned for updates on these events. They will shape the near-term direction of BTC and other coins.
For more details, visit crypto.news for the latest updates.
