Lower-than-expected labor market data fueled rate-cut speculation, boosting Bitcoin.defied bearish predictions in May and began June with a bullish surge. This upswing can be attributed to recent US economic data.
While Bitcoin ETFs have been a significant driver of price increases, other factors like spot and futures trading, options contracts, and long-term holders also play a role. Furthermore, Bitcoin's halving event combined with new and growing demand avenues reinforces optimistic forecasts for the next year.Bitcoin is stuck in a three-day holding pattern near $71,350, with a wall of sellers preventing any significant price movement. This pause seems to be a waiting game before today's crucial US
Short-term outlook: If the sideways trend continues without a breakdown, the $77,500-$83,200 range remains a potential target zone for a bullish breakout. However, a daily close below $68,500 indicates a wider trading range could emerge, potentially revisiting the $64,500-$65,000 zone. Further weakness could bring the $61,000 support into play.Institutions and billionaire investors worldwide are already well ahead of the game when it comes to AI-powered investing, extensively using, customizing, and developing it to bulk up their returns and minimize losses.
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