Bitcoin has broken out from its downward channel. I changed my bearish view to cautiously bullish. Broader market also digested the trump tariffs and US federal reserve has starting to ease despite high inflation to counter short term effects of tariffs. FED also started slowing its balance sheet reduction from April and more rate cuts are planned in 2025. US favorable environment for crypto helps generally for bitcoin and other crypto to rally.
Only issue is TradFi markets may see more downside due to reduced earnings due to tariffs which would drag bitcoin with it.
Only issue is TradFi markets may see more downside due to reduced earnings due to tariffs which would drag bitcoin with it.
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