Related Reading: Bitcoin Whales Accumulate 71,000 BTC Amidst Price Dip – Details The expectation of an interest rate cut and the growing US government deficit, which reached $1.27 trillion year-to-date in June, have contributed to the dollar’s decline, pushing investors towards riskier assets like Bitcoin and cryptocurrencies.#4 Bitcoin Miner Capitulation Ends Joe Burnett, another noted crypto analyst, highlighted via X yesterday that a month-long period of Bitcoin miner capitulation is nearing its end, indicating a potential reversal in downward pressure on Bitcoin’s price.
This what Trump winning, or the expectation of him winning, entails: Bullish for Crypto because Trump’s administration might pursue supportive regulations for cryptocurrencies, fostering innovation and adoption.” #2 German Selling Exhausted The recent completion of a large-scale Bitcoin sell-off by the German government also contributed to the price recovery.
Crypto expert Will Clemente III highlighted on X, "Trump’s odds of winning in November are skyrocketing in prediction markets.” He further noted, “Based on Bitcoin’s reaction so far, looks like markets are going to begin pricing in a full Trump victory.” Related Reading: Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?
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