at some point this year, but relentless selling pressure during April and June has the price struggling not to drop below $60,000 as the quarter draws to a close.
Anticipation of the spot bitcoin ETF approval, then the approval, and then the massive inflows into the new funds were surely major catalysts for the rise. Also in play were macro factors – namely the anticipation of a sizable series of interest rate cuts in 2024 from the U.S. Federal Reserve. Inflation, however, has failed to cooperate, and to date there has been no easing of monetary policy in the U.S.
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