Market

The bank had previously expressed its anticipation of the cryptocurrency's value reaching $100,000 by that time.

In May, the CPI plummeted to 4%, indicating a consistent downward trend. However, despite this decline, the Federal Reserve appears poised to proceed with a planned interest rate increase later this month.

The chief research officer of 3iQ, a digital asset manager, expressed that the leading cryptocurrency in terms of market capitalization is currently benefiting from the positive effects of various spot bitcoin ETF applications and other events that took place in June.

The report highlights that despite their presence in Canada and Europe for a considerable period, these ETFs have encountered limited traction among investors.

An overview of the most recent price fluctuations in the cryptocurrency markets on July 6, 2023.

Bitcoin prices have temporarily halted, finding support at the $30,000 level.

The projection aligns with Bitcoin's historical pattern of experiencing significant growth in the months following a halving of mining rewards. The fourth halving is scheduled to take place in the early months of next year.

The recent price fluctuations in the cryptocurrency markets as of July 5, 2023.

The correlation between bitcoin and Nasdaq, S&P 500 over the past 90 days has hit its lowest level since July 2021, as reported by Block Scholes, a renowned analytics firm specializing in crypto derivatives.