Bitcoin has surpassed $109,000, establishing a new all-time high yet has recently corrected to around $111,900. Despite this pullback, the cryptocurrency remains in a bullish structure within an ascending channel that started in April. Macroeconomic factors have shifted favorably for risk assets, as trade tensions have eased and investor sentiment has improved, particularly around the U.S. Federal Reserve's stance on interest rates. The alignment of Bitcoin's performance with stock indices suggests a returning risk appetite, bolstered by institutional flows into cryptocurrency investments.
At one point, markets were concerned about the potential escalation of trade tensions, especially regarding new tariff measures from the U.S. However, recent remarks from policymakers have not signaled any immediate risk-off triggers.
The ongoing correction has so far preserved the trend structure, indicating that buying interest is still present - particularly in an environment where macroeconomic conditions are gradually turning more favorable for risk assets like cryptocurrencies.
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