1. Current Market Conditions and Short-Term Outlook
Recently, Bitcoin’s price has shown a volatile pullback, once falling to the 11-day low (around $63,400), as it battles the key 50-day simple moving average. The overall market currently sits in a “fear” sentiment range, with wide-ranging fluctuations between $62,000 and $68,000.
2. Core Downside Pressure Factors and Downside Risks
1. Macro liquidity and rate-hike expectations: The Federal Reserve’s policy meeting at the end of July is the key variable in the near term. The market is currently split over whether the Fed will raise rates. If i