#macro-environment

#macro-environment

Traders anticipate Bitcoin rallying to $70,000.

Bitcoin could drop to $50,000 in the short term due to market uncertainty

Bitcoin facing lull between narratives, uncertain until U.S. election in November.

Markus Thielen of 10X Research predicts that bitcoin will reach $70,000 by the end of 2024.

Thielen cites the macro environment, monetary tailwinds, and increasing demand from traditional finance (TradFi) investors as factors supporting the bitcoin rally.

Cryptocurrencies slide lower as U.S. interest rates rise and Powell remains hawkish.

Bitcoin could reach $70,000 by the end of the year due to a favorable macro environment.