Bitcoin Price Analysis: Support Holds Strong, Bullish Momentum Anticipated

IconCryptoNewsTerminal Staff13 Jun, 2024

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Bitcoin Price Analysis: Support Holds Strong, Bullish Momentum Anticipated

Bitcoin's price is holding steady at a pivotal support level on the daily timeframe, according to analyst Michaël van de Poppe. Van de Poppe shared his insights via Twitter, noting that a bullish momentum is anticipated due to the Fed's hawkish FOMC meeting, the CPI coming out lower than expected, and weakness in US Treasury yields and the DXY. These factors suggest that the crypto markets may continue to decouple from the DXY and move in a positive direction.