🚀 Bitcoin Surges Past $84K Amid Market Rally! 📈🔥
Bitcoin (BTC) has skyrocketed above $84,000, continuing its impressive upward momentum as risk assets gain traction. 📊✨ The surge comes alongside another strong day for U.S. stocks, creating a favorable environment for crypto investors.
🔍 Caution Amid the Bullish Trend? 🤔
Despite the rally, some analysts remain wary. Joel Kruger, strategist at LMAX Group, warns that the S&P 500’s monthly chart signals a possible market correction. 📉⚠️ If U.S. equities face a downturn due to ongoing trade tensions and economic slowdown concerns, crypto markets could feel the impact.
Kruger also noted that in the case of a broader sell-off, Bitcoin could retrace to its March 2024 levels around $73,000–$74,000. Investors are now keeping a close eye on this week's FOMC meeting, where the Federal Reserve is expected to maintain current interest rates. However, analysts are watching for potential adjustments to the QT (quantitative tightening) program, which could affect market liquidity.
🏦 Will the Fed Pause QT? 🏛️💰
David Duong, head of research at Coinbase Institutional, believes that the Fed may halt or even end its QT program as bank reserves approach the critical 10-11% of GDP threshold necessary for financial stability.
💡 What’s Next for Crypto? 🚀
Duong attributes the recent crypto pullback to macro uncertainties and liquidity issues. However, he remains optimistic, suggesting that these conditions could improve in the coming months, potentially setting the stage for new all-time highs later this year! 🎯🔥
👉 Do you think Bitcoin will hit new highs soon? Let us know in the comments! 💬👇
