Bitcoin (BTC) starts a new week bearish or as a firm “buy” depending on the source — what happens next?
After a week of uninspiring price performance, the largest cryptocurrency is still stuck in the lower $30,000 range.
With inflation worrying traditional markets and summer months traditionally good for bulls, there may yet be cause for celebration. In Bitcoin, anything can happen, however, and surprises swing both ways.
Cointelegraph Markets takes a look at five factors to consider when charting where BTC/USD might head next.
Inflation spooks macro mood
It’s a quiet day for stocks and commodities thanks to holidays in the United States, United Kingdom and elsewhere in the West.
That said, Asian markets are mostly stable anyway, as traders gear up for the beginning of the traditionally slower summer period.
Zooming out, however, and the picture gets decidedly less steady. The reason, sources are telling mainstream media, is inflation.
Long a concern amid the international rebound from coronavirus fuelled by