"Bitcoin has just recorded its third consecutive daily decline and is currently trading around the $117,000 level, marking a pullback after a new all-time high at $122,120."
"Despite short-term technical pullbacks, Bitcoin continues to be supported by solid institutional inflows, particularly via spot Bitcoin ETFs, which shows sustained institutional interest."
Bitcoin has declined for three consecutive days, now trading near $117,000 following a peak at $122,120. This downturn indicates a pause in the previous bullish momentum originated from mid-June. Economic indicators paint a mixed picture, with strong CPI and retail sales alongside a decline in PPI, suggesting easing inflation. As inflation remains above the Federal Reserve's target, expectations for a rate cut diminish. Moreover, global geopolitical risks, particularly in the Middle East and the U.S.-China relationship, create further uncertainty. Even so, institutional interest in Bitcoin remains strong, particularly through spot Bitcoin ETFs, providing a supportive factor for its long-term outlook.
Read at London Business News | Londonlovesbusiness.com
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