Bitcoin is struggling to hold support at $61,000 in early trading on Thursday as the absence of any major catalyst has traders unenthused while ETF flows are flat. - While the Federal Reserve is delaying rate cuts due to inflation, the economy is still getting lots of support, noted Eric Strand, founder and portfolio manager of AuAg Funds.
Wednesday saw another day of volatile consolidation for the crypto market as Bitcoin struggled to hold support at $62,000 while stocks traded mixed.PBoC buys gold for 18th straight month, but April also marked second month of sharply lower purchases – The People's Bank of China added to their bullion reserves for the 18th month in a row, but April also marked the second month in a row of dramatically lower quantities, suggesting that record-high prices may finally be souring the central bank on gold.Bitcoin’s price stall below $70,000 could soon end as Fidelity reports that U.S. pension funds are starting to explore making allocations via spot BTC ETFs.
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