📈 Bitcoin Weekly Summary $BTC
This week, Bitcoin has shown resilience amid a challenging macroeconomic environment. Following the release of a higher-than-expected US Consumer Price Index (CPI), the Bitcoin price experienced an initial drop of 2.5%, settling at $94,000 USD. However, it managed to recover, recording a weekly increase of 0.8% and remaining range-bound between $94,000 and $100,000 USD. Currently, the price of Bitcoin is $97,506 USD, up $1,263 USD (0.01312%) from the previous close. The intraday high was $97,539 USD and the low was $95,391 USD.
In contrast, altcoins have faced significant losses, with only three large-cap assets (OM, LTC, and HYPE) showing gains in the past month. Additionally, $415 million in outflows were recorded in cryptocurrency investment products, ending 19 consecutive weeks of inflows. Despite this uncertain environment, companies like MicroStrategy continue to bet on Bitcoin, recently acquiring 7,600 BTC and accumulating a total of 478,000 bitcoins.
🤔 What do you think?
How do you see Bitcoin performing in the coming days? Do you think it will maintain this upward trend or do you anticipate a correction? I'll read you in the comments. 👇
