QCP: Japan’s bond market stabilizing boosts a rebound in Bitcoin to around $64k

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BlockBeats message, July 10, QCP Capital released its latest report: Japanese government bond yields fell, easing market concerns about the unwinding of yen carry trades and capital returning, and driving Bitcoin to rebound to around $64k.

Despite ongoing geopolitical risks in the Middle East, the strength of the US dollar, and the Fed’s still-hawkish stance, which continue to weigh on risk assets, Bitcoin has shown some resilience in the $60k range. The report believes that future price action will still largely depend on the global liquidity environment, US inflation data, and the outcome of the Bank of Japan’s end-of-month meeting.

BTC1.18%
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